TEFAF ANNOUNCES BANK OF AMERICA AS LEAD SPONSOR OF TEFAF NEW YORK
(New York, NY) September 26, 2018 – TEFAF, the not-for-profit foundation that organizes three Fairs internationally -- TEFAF Maastricht, TEFAF New York Spring and TEFAF New York Fall -- has announced that Bank of America, one of the world’s leading financial institutions, is the lead sponsor of TEFAF New York: TEFAF New York Fall, October 27-31, 2018 at the historic Park Avenue Armory, TEFAF New York Spring 2019, and TEFAF New York Fall 2019.
This key alignment is a natural partnership for TEFAF and Bank of America. Through its wealth management organizations U.S. Trust and Merrill Lynch, Bank of America provides a suite of art services, including one of the largest art lending programs, and has many clients that align with TEFAF’s collectors and supporters. The formation of this new partnership offers opportunities for the art community at large through unparalleled programming and art-related cultural events for both established art enthusiasts as well as a next generation of collectors. The partnership fully intends to expand the appreciation of arts to both existing patrons and clients, but also to new audiences throughout North America.
“TEFAF is an important arts organization with a great mission. Its Fairs attract the most discerning and high-caliber art collectors and dealers,” said Evan Beard, National Art Services Executive at U.S. Trust. “We are excited about the partnership given the alignment of our client bases, particularly in our wealth management businesses.”
Through its ESG program, Bank of America is also one of the world’s leading corporate supporters of non-profit arts institutions. Bank of America supports more than 2,000 visual and performing arts organizations worldwide each year.
Bank of America’s program is focused on helping nonprofit arts institutions thrive through grants, exhibition support – at least ten per year - and loans of complete exhibitions from its collection, at no cost, to nonprofit museums so that they may drive traffic and revenue. The program also includes donations of art and auctions to benefit nonprofits across a wide spectrum: hospitals, shelters, museums, community centers. The Bank of America Art Conservation Project, in its eighth year, has provided funding for 150 conservation and/or restoration projects in 30 countries.
“Our support for non-profit arts institutions is borne out of our company’s commitment to responsible growth and delivering economic and social value to the communities we serve,” said Rena De Sisto, Global Arts and Culture Executive at Bank of America.
Like Bank of America, TEFAF is also known for its conservation efforts and has a shared dedication to cultural heritage, as it has an extensive cultural program and is an active benefactor to various museum programming and conservation causes.
“As showcased by the annual Prince Claus Fund, our first commitment at TEFAF is supporting the art community with the conservation, preservation and restoration of art,” said Patrick van Maris, CEO of TEFAF. “We share the view that the art community thrives when different groups unite to create and support innovative programming and partnerships with museums, and we’re looking forward to working with Bank of America for our next three editions of TEFAF New York.”