The exhibition, entitled Collected Visions, will feature 70 modern and contemporary works by leading artists of the twentieth century and will be on display at the Emperor's Hall at the DIFC from March 10 through May 1, 2008.
Started nearly 50 years ago by David Rockefeller when he was head of Chase Manhattan Bank, the JPMorgan Chase Art Collection is one of the oldest and most extensive corporate art collections in the world. This exhibition marks the first time the firm has displayed museum-quality pieces from its modern and contemporary collection in the Middle East and follows on from a very successful tour of the artworks at the Pera Museum in Istanbul, Turkey, from October 2007 to January 2008.
The Collected Visions exhibit will feature painting, sculpture, photography and works on paper that date from 1959, the year that the firm's art program began, by leading artists such as Milton Avery, Jean-Michel Basquiat, Zaha Hadid, Jenny Holzer, Roy Lichtenstein, Cindy Sherman and Andy Warhol. Several pieces are included because of their association with American pop culture, including Andy Warhol's silkscreened images of Marilyn Monroe, Richard Prince's appropriated cowboy photographs, Jeff Koons's iconic basketball sculpture, and Saul Steinberg's whimsical model of downtown New York. Of special interest is Christo's 1980 mixed-media work, The Mastaba of Abu Dhabi, Project for the United Arab Emirates, a drawing for a monumental project recently undertaken in the Emirate nearly 28 years after its first proposal.
Ghassan Abdul Karim, chief executive officer for JPMorgan in the Middle East and Africa (MENA), said: "Collected Visions will be a unique opportunity to view many of the distinguished artworks from the JPMorgan Chase Art Collection. JPMorgan has a long-standing history of serving clients in the region and as a leading financial institution we are committed to enriching the communities of the areas where we operate around the world. This exhibition also comes at a time of unprecedented economic growth in the Middle East and we are increasingly delivering all aspects of JPMorgan's global business platforms to our clients."
Commenting on the upcoming art show, His Excellency Dr Omar Bin Sulaiman, Governor of the Dubai International Financial Centre said, "This is a rare opportunity for Dubai and UAE's residents and visitors to savour such a rich collection of artworks from a range of world-renowned artists. This exhibition highlights our joint commitment to the integration of art and culture into the Centre's dynamic business environment. Hosting such a prestigious modern and contemporary art collection as Collected Visions underlines the DIFC's aspiration to enrich Dubai's cultural offering, and we invite everyone to the Emperor's Hall to appreciate this exhibition."
Lisa K. Erf, Director of the JPMorgan Chase Art Collection, said: "We are delighted to take this rare collection to the Middle East for the first time, and to share it with a much broader audience of clients, employees and communities."
As an integral part of the exhibition, a bespoke arts education programme is in development in partnership with the DIFC. The programme, comprised of workshops and tours, will be aimed at engaging school teachers, families and young people, many of whom have not had the opportunity to engage in arts education programmes before, or gain such a unique insight into a rare exhibition of this kind.
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JPMorgan to bring its world famous art collection to Dubai
- United Arab Emirates: Tuesday, February 19 - 2008 at 12:54
- PRESS RELEASE
JPMorgan announced that it will be exhibiting master artworks from the JPMorgan Chase Art Collection at a special exhibition in partnership with the Dubai International Financial Centre (DIFC).
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About JPMorgan ChaseJPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.6 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. JPMorgan Chase is committed to investing in education, economic opportunity, development and environmental programs that enable people and communities to thrive. Information about the firm is available at www.jpmorganchase.com.
About JPMorgan in the Middle East and North Africa
JPMorgan has a committed and long-standing history of serving clients in the Middle East and North Africa (MENA) dating back to the 1950s when The Chase Manhattan Bank, a forerunner of today's JPMorgan, opened an office in Beirut, Lebanon. The firm has had a presence in Bahrain and Cairo, Egypt for over 30 years and in 2007 it set up a new company in Riyadh, Saudi Arabia and opened an office in Dubai, United Arab Emirates. Across the Gulf Cooperation Council (GCC), the Levant region and North Africa the firm's Investment Banking business has key relationships with governments, top financial institutions and corporates. JPMorgan also has a Private Banking franchise providing world class wealth management expertise to high net worth individuals and their families, and an Asset Management business which provides clients in certain part of the region with investment management advice and tailored solutions. Treasury & Securities Services is also the firm's strength, as one of the world's largest cash management providers and a leading global custodian.
Recent mandates that the firm advised on include Dubai International Capital's $1.2bn acquisition of Almatis from Rhone Capital, Arcapita's $1bn acquisition of Profine (HT Troplast), Etisalat's $2.9bn acquisition of the third GSM license in Egypt and Petrochemical Industries Company's $19bn global petrochemicals joint venture with Dow Chemical (ongoing). Additionally, JPMorgan has led a number of recent significant capital markets transactions in the region including Dubai Holding Commercial Operations Group's $2.5bn Eurobond financing, SABIC's $9.2bn financing for the $11.6bn acquisition of GE Plastics, Dana Gas's $1bn convertible Sukuk offering and Nakheel's $750m convertible Sukuk offering. Further information is available at www.jpmorgan.com/mena.
About JPMorgan Chase Art Collection
The JPMorgan Chase Art Collection reflects the firm's historic roots and a legacy of philanthropy going back to two of its founders, David Rockefeller and J. Pierpont Morgan. The collection represents the holdings of more than a dozen heritage firms. The roots of the collection and philosophy of art in the workplace began with the building of the One Chase Manhattan Plaza building in New York's lower Manhattan financial district. The firm embraced a modern building design that incorporated contemporary art in the workplace. Since that time, JPMorgan Chase has included arts and culture in its philanthropic programs and integrated art in its corporate locations around the globe including offices in London, Paris, Frankfurt, Tokyo, Singapore, Buenos Aires and Sao Paolo. It is now recognized as a leader in the field of corporate collections and credited with a model that has been emulated across the world.
About the DIFC
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services.
In just three years, over 500 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.
Posted by Lara Lynn Golden, News EditorTuesday, February 19 - 2008 at 12:54 UAE local time (GMT+4)
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