Insert from  Goldman Sachs brings art advisory service to Asia’s ultra-rich

Goldman Sachs has begun providing advice on art and collectibles to ultra-wealthy people in Asia, including Hong Kong and mainland China, which together form the world’s second-largest art market.

The US investment bank’s private wealth management (PWM) division started its art and collectibles advisory service in the US in 2019, expanded to Europe three years ago and rolled out in Asia last year. The division has around 16,000 clients globally who put an average of US$70 million worth of assets with the bank. Ultra-high-net-worth individuals are defined as those with more than US$30 million in net worth.

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