Strategies for Corporate Art Collecting: Lessons from Deutsche Bank

The corporate art collection, as exemplified by Deutsche Bank's extensive holdings, is more than a decorative asset; it is a strategic tool for shaping organizational identity, enhancing workplace dynamics, and strengthening external relationships. The case study by Rita Kottasz et al., published in the International Journal of Arts Management (Fall 2007), explores how Deutsche Bank leverages its 50,000-piece collection—the world’s largest corporate art collection—to project a sophisticated, innovative, and diverse corporate identity. For corporate art collectors today, whether in finance, technology, or other sectors, the practices of Deutsche Bank offer valuable strategies for building collections that align with business objectives, foster employee engagement, and enhance client relationships. This essay distills key lessons from the Deutsche Bank case and provides actionable strategies for corporate collectors aiming to integrate art into their organizational strategy effectively.

Align Art with Corporate Identity and Values

Deutsche Bank’s collection, heavily focused on contemporary works by living artists, reflects its core values of modernity, diversity, and creativity. The bank’s leadership views the collection as a symbol of its “fluid, permanently shifting and changing” identity, signaling to stakeholders that it is a forward-thinking, innovative institution. Internal policy documents emphasize the purchase of international contemporary art to mirror the diversity of its workforce, reinforcing the bank’s commitment to a global, inclusive culture.

Corporate collectors should ensure their art collections embody their organization’s mission and values. For example, a tech company emphasizing innovation might collect cutting-edge digital or AI-generated art to signal its pioneering spirit. A healthcare firm focused on community well-being could acquire works by local artists to underscore regional ties. To implement this, establish clear acquisition guidelines with an arts committee, as Deutsche Bank does, to ensure purchases align with the company’s desired identity. Engaging employees in the selection process through surveys or art tours can further embed these values, fostering a sense of ownership and alignment.

Use Art as a Marketing and Client Engagement Tool

Deutsche Bank’s collection serves as a powerful marketing platform, described as a “soft tool” to complement traditional communications. The bank uses its art for corporate hospitality, hosting private viewings and tours for clients, which act as icebreakers and facilitate dialogue. The collection’s visibility—on visitor passes, computer screens, and in promotional materials—enhances its role in attracting high-net-worth clients and new graduates, differentiating the bank from competitors.

Corporate collectors can leverage their collections to strengthen client relationships and enhance brand perception. Displaying art in client-facing spaces, such as lobbies or meeting rooms, creates a memorable impression of sophistication and cultural engagement. Organizing art-related events, like gallery tours or artist talks, can deepen client connections, particularly for firms serving affluent or culturally inclined clientele. Additionally, integrating art into marketing materials, such as annual reports or social media campaigns, can amplify brand visibility. For instance, a law firm might showcase its collection on LinkedIn to project an image of refinement, drawing inspiration from Deutsche Bank’s strategic use of art in external communications.

Foster Employee Creativity and Engagement

Deutsche Bank’s leadership emphasizes the collection’s role in stimulating employee creativity and breaking down the “archetypical mentality of an office.” Respondents noted that contemporary art, even when polarizing, provokes reactions that spark intellectual engagement and innovative thinking. The bank’s practice of allowing senior managers to select artworks for their offices and offering staff tours and lectures further enhances employee involvement, boosting self-esteem and a sense of equality by providing universal access to high-value art.

Corporate collectors should use art to invigorate workplace dynamics and inspire employees. Place thought-provoking works in communal areas like break rooms or corridors to encourage dialogue and creative problem-solving. Implementing programs like Deutsche Bank’s staff tours or guest lectures can educate employees about the collection, fostering pride and connection. To address potential skepticism about art spending, communicate the collection’s purpose transparently—emphasizing its role in enhancing the work environment and supporting the arts community. For example, a retail corporation might host artist workshops to engage staff, mirroring Deutsche Bank’s efforts to make art a catalyst for workplace innovation.

Prioritize Contemporary and Emerging Artists

Deutsche Bank’s focus on contemporary art, particularly by young, up-and-coming artists, is strategic. These works, often purchased directly from galleries at an average cost of £1,000 per piece, are relatively affordable yet offer potential for appreciation, aligning with the bank’s image as a supporter of new talent. This approach also supports the arts community, enhancing the bank’s corporate social responsibility (CSR) profile, though respondents prioritized marketing and productivity benefits over philanthropy.

Corporate collectors should consider investing in contemporary and emerging artists to balance cost, impact, and social responsibility. These works are often more accessible than blue-chip pieces, allowing firms to build substantial collections without excessive expenditure. Partnering with local galleries or art fairs, such as Frieze or Art Basel, can provide access to promising artists whose work resonates with the company’s identity. For instance, a renewable energy company might collect works by artists addressing environmental themes, reinforcing its sustainability commitment while supporting new talent. Using platforms like Art Collector IQ to track emerging artists and market trends can help identify high-potential acquisitions.

Manage Collections Professionally with Clear Governance

Deutsche Bank’s collection is overseen by an Arts Committee, comprising an Arts Advisor and senior managers with client-facing roles, ensuring strategic alignment with business goals. The committee’s focus on gallery purchases and its integration with departments like Community Development and Branding demonstrates a professional approach to collection management. Internal documents and regular reviews further ensure the collection remains relevant and impactful.

Corporate collectors should establish formal governance structures to manage their collections effectively. Create an arts committee with representatives from marketing, HR, and executive leadership to guide acquisitions and ensure alignment with corporate objectives. Develop a collection policy outlining criteria for purchases, display, and maintenance, as Deutsche Bank does with its emphasis on diversity and modernity. Engage professional art advisors or curators to source and authenticate works, mitigating risks like forgeries. Regular audits and employee feedback can keep the collection dynamic, ensuring it continues to serve strategic purposes.

Mitigate Financial and Perception Risks

While Deutsche Bank’s leadership downplayed financial motives, the collection’s value has risen significantly, offering a hedge against inflation. However, respondents acknowledged employee concerns about art spending as a “waste of money,” highlighting the need to manage perceptions. The bank counters this by emphasizing the collection’s role in creativity and client engagement, not aesthetics alone, and by keeping individual piece costs low.

Corporate collectors must balance financial considerations with stakeholder perceptions. While art can appreciate, treat it primarily as a strategic asset rather than an investment to avoid speculative risks. To address employee skepticism, communicate the collection’s benefits—such as enhancing workplace culture or attracting clients—through internal newsletters or town halls. Opting for cost-effective contemporary works, as Deutsche Bank does, can minimize financial exposure while maximizing impact. For example, a manufacturing firm might acquire affordable local art to support community ties, ensuring transparency about modest budgets to maintain employee trust.

Conclusion

Deutsche Bank’s corporate art collection illustrates how art can transcend decoration to become a cornerstone of organizational strategy. By aligning collections with corporate values, leveraging art for marketing and client engagement, fostering employee creativity, prioritizing emerging artists, managing collections professionally, and mitigating risks, corporate collectors can harness art’s potential to differentiate their firms and enhance their brand. The lessons from Deutsche Bank’s approach offer a roadmap for today’s corporate collectors, demonstrating that a well-curated collection is not just an asset but a dynamic tool for shaping identity, inspiring innovation, and building lasting stakeholder relationships. In a competitive business landscape, art can be the edge that sets a company apart, much like Deutsche Bank’s collection distinguishes it as a leader in both finance and culture.

Kottasz, Rita, Roger Bennett, Sharmila Savani, Wendy Mousley, and Rehnuma Ali-Choudhury. “The Role of the Corporate Art Collection in Corporate Identity Management: The Case of Deutsche Bank.” International Journal of Arts Management 10, no. 1 (2007): 19–31. http://www.jstor.org/stable/41064905.