Financial institutions like Vontobel extensively collect and support the arts. But Karin Ruckstuhl believes that art is much more than an investment and has a great deal to do with individual development, the client advisor tells finews.art in an interview.
Frau Ruckstuhl, what came first? Finance or art?
I am interested in people and finance. My profession has allowed me to provide individual services that exactly meet the needs of clients. My career has led me to many clients who had an affinity for the arts, which is something that helped develop my passion for art.
Before I joined Vontobel, I was already managing families that had built up meaningful collections. Many of my clients saw art as an expression of their lifestyle. However, in that, I saw two types of collectors.
You will have to explain that.
Some see it as a status symbol in the same way they do expensive cars or rare wines. Others buy art out of passion while intensively pre-occupying themselves with socially relevant themes.
Pixy Liao «Things We Talked About». Photograph on display at Vontobel in Geneva. (Image: Vontobel)
How does Vontobel advise clients when it comes to art?
We concentrate on what we can do best, investment management. Advising on art is not one of our core competencies.
«We don’t see art as an asset class»
Instead, what we offer them is a far-flung art advisory network, which is something that helps us maintain the integration of our financial advice.
You don’t see art as an investment?
We don’t see art as an asset class. It is not liquid enough and it doesn’t provide regular income. The art market is volatile and less transparent than the financial markets.
Vontobel has been collecting and supporting art for a long time. How is that perceived by clients?
Art plays a large role at Vontobel. Our clients appreciate it when we support cultural projects and tackle socially relevant themes.
«Such initiatives help us to get the younger generations more enthusiastic about art»
Art promotes our relationships, and the trust, with clients, particularly with the younger generation, which is strongly focused on socially relevant themes and innovation. That is something I can see in conversation. Art is a good way to get to know a person and their interests better.
A good example is our «A New Gaze» art prize, which is aimed at supporting young talent in the photographic arts while giving them a platform.
Vontobel art prize «A New Gaze 4». Work by Augustin Lignier, Zurich 2024 (Image: Vontobel)
Such initiatives help us to get the younger generations more enthusiastic about art while also showing our engagement with socially relevant themes at the same time. We don’t provide art advisory services but we do create art-related projects.
How should we interpret these art projects?
A highlight was an event with a London art advisor, where we organized an exhibition and a discussion around the theme of art and finance. Such events are a great platform to get to know our clients better while also helping support them in their passion for art.
«Many young people go their own way when it comes to art»
Another project is the art day we held in which we invited the children of clients. We visited art studios in Zurich together with Georgina Casparis, the head and curator of Vontobel’s art collection.
Those kinds of activities help get the younger generation more enthusiastic about art and guide them toward socially relevant themes. Such experiences not only intensify the bonds with our clients, but they also show that art is far more than an investment – it is an important part of one’s education and personal development.
Vontobel art prize «A New Gaze 4». Work by Emidio Battipaglia, Zurich 2024. (Image: Vontobel)
That means that the ultimate meaning of art grows beyond its original intent.
Yes, some young people have little to no connection to the art of their parents. An example of that would be if I asked young people on the street who Berthe Morisot is. Most would just look back blankly. She was an impressionist painter (1841-1895) and a very significant one.
By contrast, if I mention the name Banksy I would probably get an immediate reaction. Almost everyone knows the street art artist. Why? I think it is not only due to the cool motives in the art but also the message behind it.
I believe that the message in art is today much more important to younger people than it was to our generation.
Sara Cwynar, «Man 1». Photographic art on display at Vontobel in Geneva (Image:Vontobel)
What role does art play in your life?
Art is a source of enrichment both professionally and privately for me. Privately, I collect sculptures and I am particularly fascinated by painter and sculptor Hans Arp.
A few months back, I discovered a great work by the Swiss artist Not Vital in a gallery, and I still have my eye on it. My enthusiasm for art is reflected in my work and helps me develop a deeper connection with clients.
Karin Ruckstuhl has more than 40 years of experience in finance. She has been a Managing Director at Vontobel since 2014, where she has mostly managed UK-based clients. Before that, she worked for 15 years at HSBC in Zurich as a senior relationship manager and desk head for the UK team. She began her career at the Republic National Bank of New York (Suisse) and the Mercury Bank in Zurich, where she was a senior relationship manager and portfolio manager.
