UBS Collaborates With Artist Federico Herrero to Celebrate 26 Years as Global Lead Partner of Art Basel in Basel

At the world's leading art fair, the UBS Art Collection presents a commissioned installation, painted on-site by Costa Rican artist Federico Herrero, in the UBS Lounge, as well as The UBS Art Studio (Hall 1), dedicated to #TOGETHERBAND in support of the 17 UN Global Goals

"Art fairs play a pivotal role in the art market with nearly half of all global dealer sales occurring at fairs. Many of our clients devote a significant part of their wealth to building up collections, driven by a passion for art. The Art Basel show offers the perfect environment for our global community of collectors to convene."

Martin Blessing, Co-President, Global Wealth Management, UBS

BASEL, Switzerland, June 12, 2019 /PRNewswire/ -- UBS celebrates its 26th year of support as Global Lead Partner for Art Basel in Basel (13 – 16 June 2019), presenting new works by Herrero. Building on eight years of collecting his work for the UBS Art Collection, this collaboration is a celebration of UBS's relationship with the artist and continues UBS' commitment to the support of artists. Known for his temporary site-specific interventions, Herrero has produced an 11-meter, abstract wall painting on-site in the UBS Lounge. The presentation also features five of Herrero's new paintings, creating an immersive experience for visitors.

Herrero also presents work in the UBS Art Studio, UBS's public booth dedicated to #TOGETHERBAND in support of the 17 UN Global Goals. Initiated by sustainable accessories brand BOTTLETOP, the campaign aims to engage thousands of people across the world to raise awareness for the goals, in partnership with the United Nations Foundation, World Wildlife Fund, Project Everyone, Eco Age and Global Citizen. At the heart of the #TOGETHERBAND campaign are 17 sustainably and ethically produced friendship bands in the colours of the 17 goals made from up-cycled ocean plastic and Humanium, re-cycled steel created from seized illegal firearms. The bands will be available to purchase at the booth and 100% of the proceeds are used to spread the word about the Global Goals and fund life-changing projects.

Mary Rozell, Global Head of the UBS Art Collection, says: "The UBS Art Collection values close collaboration with artists and the relationship with Federico Herrero exemplifies this. We have been collecting works by Federico since 2011 and now have four works in our collection, one of which hangs in our recently renovated global headquarters in Zurich alongside some of the most important works from the UBS Art Collection.

Federico Herrero says: "My site-specific interventions around the world have shown me the transformative impact art can have on communities, as it brings people together and can completely alter the environment. I'm passionate about how art can be used as an educational tool, by responding to the surrounding environment and seeking audiences to develop a deeper understanding of the world and how things connect, leading to a more sustainable future. For my work at the UBS Lounge at Art Basel, I created a group of paintings that will be in dialogue with a site-specific mural."

For Art Basel 2019, Art Economics and UBS present results from a survey of Swiss high-net-worth collectors which builds on HNW surveys conducted for The Art Basel and UBS Global Art Market Report. Key findings include evidence of high engagement and significant spending by female collectors in the Swiss market, and greater female artist representation in Swiss collections compared to other markets: Germany, Japan and Singapore. There was more expenditure at higher price points ($1m + level) compared to other markets, particularly by millennials and women. Gen X and millennials were also the most active collectors across all segments. The Swiss HNW collectors surveyed had a more international collecting focus, with 47% of the works in their collections by local artists compared to 53% by artists from abroad (compared to 45% in the other 5 markets). Millennial collectors had the highest share of foreign artists' works in their collections at 60%. The most popular source for advice on Swiss collection management was from dealers and gallerists.