Art has an innate ability to bring people together and deepen our connections to surrounding environments. It is a vehicle to depict cultures and has long served as a driving force for social and cultural change.

Art brings people together, opens conversations, questions the status quo and ultimately celebrates the elements that make us human.

It’s one of the reasons why, at UBS, we’re passionate about art. In particular, the UBS Art Collection acquires and maintains works of art in the communities where we do business, buying on the primary market to directly support artists and galleries. With some of the world’s most significant contemporary artists represented including Jean-Michel Basquiat, Ellsworth Kelly and Vija Celmins, the Collection is part of our cultural history and contributes to the innovative thinking that shapes UBS today.

The art of collecting

UBS is also actively engaged in supporting the art ecosystem—from our longstanding partnership with Art Basel to our new partnerships with collector and creative communities like Art Noir and Gold House.

Our engagement includes sharing insights that help illuminate the art market. For example, Art Basel and UBS recently co-published a survey of high net worth (HNW) art collectors. The report, prepared by Dr. Clare McAndrew of Art Economics, found that 66% of HNW collectors reported an allocation of over 10% to art in their overall wealth portfolios.

In addition, UBS’s Invest to Advance research uncovered an interesting connection between HNW multicultural investors and art. Specifically, the HNW Black (46%) and Hispanic investors (41%) we surveyed were more than twice as likely to have art collections than HNW investors overall (19%).

Art as the great unifier

A broader definition of the arts includes not only visual arts but also performing, literary and culinary arts. Culture, community and culinary excellence were in abundance at The Family Reunion, an immersive experience celebrating diversity in the hospitality community, which UBS recently sponsored. Chef and author Kwame Onwuachi, in collaboration with Food & Wine and Salamander Hotels & Resorts, created an experience to remember, celebrating cultural diversity in the hospitality and culinary arts.

That’s the beauty of art, and the beauty of artists.

There are no binding guidelines—nor is there an appointed authority, capable of defining what is and isn’t art. Universal to every creative expression is a focus on appreciation: an artist’s work might be praised by art historians, loved by the public—or harshly criticized.

When people bring their passions and perspectives to the table, there’s no shortage of ways we can find commonality and connection.

How UBS is reimagining new perspectives

When Art Basel chose Miami Beach to host the first global offshoot of its art mega-fair in 2002, it cemented the city’s status as an international art capital. Home to a thriving art community and one of the greatest concentrations of private museums anywhere in the world, Miami Beach during the first week of December becomes the art capital of the world.

I am excited to be attending once again. With over 250 galleries exhibiting, this year not only promises renewal but will also showcase the most diverse range of voices in the fair’s history.

One Miami Beach moment not to be missed: Global Head of the UBS Art Collection Mary Rozell will debut a new book, Reimagining: New Perspectives, featuring more than 120 of the latest acquisitions by the Collection. I cannot wait for the launch and the opportunity to explore the insights, work and multicultural inspirations of some of today’s most influential artists.

Representation in art matters

Diverse artists are receiving recognition long overdue and there’s still work to be done to center their experiences and work in the art world.

Perhaps with that renewed vision, art can not only be for all of us, it can represent all of us.