BANK OF AMERICA RETURNS AS LEAD SPONSOR OF TEFAF NEW YORK SPRING

 
(New York, NY) – April 11, 2019:  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, returns as lead sponsor for the upcoming third edition of TEFAF New York Spring, May 3-7, 2019, at the Park Avenue Armory, New York City.  
 
Bank of America is one of the world’s leading corporate supporters of non-profit art institutions, supporting more than 2,000 visual and performing arts organizations worldwide each year. Given the firm’s deep commitment to the conservation and preservation of art, cultural heritage and museum programming, the partnership with TEFAF is a natural fit.

“We are delighted to continue our tremendous collaboration with Bank of America at TEFAF New York Spring” said Patrick van Maris, CEO of TEFAF. “Bank of America shares TEFAF’s belief in the power of the arts to create greater cultural understanding and enrich communities. They do this through many initiatives including The Bank of America Art Conservation Project, which aligns with TEFAF’s own conservation and heritage mission through the  Prince Claus Fund, seeking to protect cultural heritage by providing crucial ‘first aid’ to rescue heritage threatened by man-made or natural disasters.”

Bank of America Private Bank and Merrill Lynch Wealth Management are divisions of Bank of America. Clients can work with their advisors to help navigate the complexities of the art world and have access to extensive art services for collectors and institutions.

“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 Bank of America Private Bank. “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’s program helps 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.
 
As part of its ongoing collaboration, TEFAF New York and Bank of America will present a panel discussion -- Niche to Global: The [Recent] Evolution of the Art Market -- on Friday, May 3, in the Veterans Room of the Park Avenue Armory. The panel will discuss how the art world has moved from a niche lifestyle hobby to a billion dollar global industry and how this shift has affected museums, collectors, dealers, and culture.
 
Panelists: Frances F.L. Beatty, Chairman, Adler Beatty; Michael Shnayerson, author and Vanity Fair contributor; Gary Tinterow, Director, Museum of Fine Arts, Houston
Moderator: Evan Beard, National Art Services Executive, Bank of America Private Bank