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Art Specialist/Advisor
Art Specialist/Advisor
Citi Private Bank
Post Date: 23 Oct 2021

JOB OVERVIEW

Citi Private Bank Art Advisory & Finance

Art Specialist

Join the Citi Art Advisory & Finance team as an art advisor and specialist working with clients of Citi Private Bank and their families. Work with Art Advisory clients to provide objective, comprehensive art advice on building important, museum-quality private art collections. Support the Art Finance business by conducting fully researched, detailed art valuations supporting the Investment Finance teams.

Job Requirements

  • Expertise and responsibility equivalent to senior specialist at auction house
  • At least 15 years of art world experience with knowledge of the global art market and an advanced degree in Art History

GENERAL

  • Act as a representative for Citi Art Advisory and Finance in art market through experience and expertise
  • Work with the highest level of integrity and ethical standards. Maintain client confidentiality
  • Offer a unique and specialized product to ultra-high net worth clients, distinguishing Citi from all other financial institutions
  • Demonstrate deep art historical expertise along with extensive art world and art market knowledge and experience
  • Maintain expansive art market network among galleries, auction houses, collectors, and museums
  • Keep abreast of current issues impacting the art market, including AML legislation
  • Work closely with a wide variety of collector clients, maintaining and deepening these relationships

ART ADVISORY

  • Advise clients regarding their art acquisitions, sales and legacy planning to maximize quality and value
  • Understand advisory clients’ aesthetics, tastes, budgets and concerns, and provide tailored service to meet their needs
  • Source and recommend art from auction houses, galleries and private dealers from around the world that are in the client’s best interest
  • Research recommended works, as well as those identified by clients, from auction and private sources, determine condition, and prepare market analysis to determine appropriate price level
  • Negotiate purchases, sales and consignment agreements on clients’ behalf
  • Conduct comprehensive due diligence with complete transparency on all of a client’s acquisitions, including evaluation of authenticity, condition, and provenance
  • Coordinate with Collections Manager on conservation, framing, shipping and installation, insurance, exhibition loans and sale consignments
  • Have regular contact with clients to determine their needs and provide personal attention to all details of their collecting and curatorial issues
  • Maintain regular contact with art market sources, keeping abreast of current market information
  • Plan visits with clients to galleries, art fairs, museums and auction previews, and arrange exclusive meetings for clients with other collectors, artists and museum curators.

ART VALUATIONS

  • Enable collectors to utilize their artwork as a working asset by assisting lending officers to use art as collateral
  • Conduct a high volume of fair market valuations of art held as collateral
  • Prepare a detailed collateral valuation memo with market comparables for each loan
  • Research proposed collateral with due diligence for value, condition and marketability
  • Update existing collateral values according to market fluctuations
  • Conduct annual inspections of loan collateral, or in some cases more frequently to ensure the art is properly maintained
  • Using experience of past fluctuations in the market, bring perspective to credit decisions to protect bank from inappropriate transactions
  • Organize and maintain documentation for loans, including ownership and insurance documents
  • Work closely with internal partners, including bankers and loan specialists, to prospect new business and maintain existing loans

BUSINESS DEVELOPMENT

  • Assist bankers in identifying art client prospects and marketing of Citi
  • Coordinate with business heads and bankers throughout Citi to source clients and introduce own network of art prospects, major art collectors, dealers and auction houses for advisory and loan business
  • Build and preserve relationships with large institutional clients
  • Serve as liaison between Art Advisory & Finance clients to bankers and other parts of bank; increase client involvement in the bank through continuity and confidentiality and knowledge of the Citi Private Bank and Global Wealth platform and the breath of Citi.
  • Recommend venues for client events, topics for panel discussions and articles
  • Conceptualize and host marketing events working with regional and marketing partners
  • Find opportunities to expand CPB’s reach and connectivity through networking and prospecting
  • Contribute to online art marketing content

COMPLIANCE & BUSINESS RISK

  • Ensure compliance with legal and regulatory requirements in keeping with the policies of the Citi Private Bank
  • Balance understanding of art market with requirements of financial institution and fiduciary responsibility
  • Stay current on regulatory requirements as they apply to Art Advisory and Art Finance businesses

JOB DETAILS

Location
Los Angeles, USA

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