Deutsche Bank Expands Art Collection by 50%

The Wall Street Journal draws attention to the massive expansion of Deutsche Bank’s art collection during the same period that many banks around the world have been shedding theirs as unnecessary–or unjustifiable–assets:

The bank’s just-renovated headquarters—twin towers of 38 and 40 stories—feature 1,500 pieces grouped regionally from Asia, Africa/the Mideast, the Americas, Germany and the rest of Europe. One-third are new to the bank’s collection.

The bank limits itself to paper-based creations—mostly sketches, water colors and photographs—which the company views as better at reflecting artistic innovations and experiments. The oldest artist was born in 1957, the youngest in 1985. Two pieces were commissioned. (The older work by German artists was lent to a Frankfurt museum.) The bank declined to comment on how much it spent on the art.

A Bank Thinks Globally for Its Headquarters’ Art (Wall Street Journal)