Bank of America Merrill Lynch art conservation project helps restore 20 works of art across globe

Written by Ian Rowbotham Thursday, 02 February 2012 00:19

LONDON.- At an event at London’s Courtauld Gallery on 31st January, Bank of America Merrill Lynch announced this year’s conservation funding recipients through its unique Art Conservation Project. This year, participating institutions span the globe from Europe, the Middle East and Africa (EMEA), to Asia, Australia, Latin America and the United States. The Art Conservation Project will see the restoration of 20 art works and artifacts with important cultural and historical value from 19 countries. The 2012 award selections for EMEA include one of Leonardo Da Vinci’s earliest manuscripts at the Castello Sforzesco in Milan; five Marc Chagall paintings at the Tel Aviv Museum of Art and a collection of 1st century BC Urartian jewellery at the Rezan Has Museum in Istanbul. The programme aims to strengthen public awareness about the importance of art conservation, and the value that it holds in underpinning museum and gallery programming throughout the world.

At the event, guests received a preview of the newly restored Rubens’ ‘Cain Slaying Abel’. This iconic work was restored as part of the bank’s inaugural project and will be on public display at the Courtauld Gallery, which is an international centre of expertise for conservation, from today (1 February ).

Introduced in 2010 in EMEA, the Bank of America Merrill Lynch Art Conservation Project is a unique programme that provides grants to nonprofit museums throughout the world to conserve historically or culturally significant works of art that are in need of restoration.

“As a company with employees and clients in more than 40 countries and 100 markets around the world, we learn every day that cultural understanding and respect are essential for economies and societies to thrive,” said Rena DeSisto, Global Arts and Culture executive at Bank of America. “We believe that understanding cultures through the arts is an important foundation for promoting innovation and tolerance in an increasingly integrated world. This programme makes real investments in the cultural treasures of many nations while at the same time helping museums with the growing cost of art conservation.”

“In these economically challenged times, and as art conservation consumes ever greater portions of tightened museum budgets, the need for private arts funding has become even more critical,” added Ms DeSisto.

The Bank of America Merrill Lynch Art Conservation Project is an extension of the company’s global commitment to supporting the arts. Partnering with more than 5,000 arts organisations worldwide, Bank of America Merrill Lynch’s multi-faceted Arts and Culture Programme provides assistance for a wide spectrum of the arts, with an emphasis on programmes that foster greater cultural understanding.

Bank of America Merrill Lynch launched a major initiative to help conserve important works of art and cultural treasures. As part of the Bank of America Merrill Lynch Art Conservation Programme, the Bank of America Charitable Foundation, Inc. will provide grants to restore cherished art works to preserve their unique cultural value for future generations. Applications are welcome from nonprofit museums and cultural institutions throughout Europe, the Middle East and Africa. They will be assessed by a group of bank personnel, including curators, who will seek outside advice as required.

The programme is expected to grant at least US$1 million per year, with the actual outlay to vary based on the submissions and the desire to reach multiple geographies and media. The initiative is part of Bank of America Merrill Lynch’s global arts programme, which aims to promote the critical role that art plays in enhancing cultural awareness and understanding.

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