When Observer asked Mary Kate O’Hare, Head of Art Advisory at Citi Private Bank, to describe her role in the industry, her response was as thoughtful as it was revealing: “Sometimes I feel that I’m a protector for my client. Somebody who’s there to create a shield and to help my clients do this with confidence and know that we have their best interests at heart.”
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The art world has long been known for its unspoken rules and labyrinthine and opaque dynamics, making it daunting for newcomers to navigate without a savvy guide. O’Hare is uniquely qualified to help newcomers brave these sometimes murky waters, with more than two decades of experience spanning leading curatorial and research roles at the Newark Museum of Art to her current post at one of the world’s foremost financial institutions. (Notably, Citi pioneered the concept of in-house art advisory services in 1979, with an advisory arm co-founded by none other than now-renowned dealer Jeffrey Deitch. Today, the company is a quiet art investment powerhouse, offering expertise in everything from acquisitions and sales to estate planning and collection management.)
“We work within an ethical framework that’s aligned with the ways museums usually work,” O’Hare says, discussing the backbone of Citi’s strategy. Having an art advisory service in-house allows the bank to integrate collecting into its broader wealth management services, ensuring that clients’ cultural pursuits align with their long-term financial goals. “Because we are part of a large financial organization, we have connectivity........