New group works with wealth managers, family offices and boutiques to seize opportunities in a growing and competitive market.
New York, NY, May 3, 2018 – Capco, a leading management and technology consultancy focused on the financial services industry, today announced the launch of its Fine Art & Collectibles group within its Wealth and Asset Management practice. The group is led by Phillip Ashley Klein, who recently joined the firm from Deloitte, where he was head of the Art & Finance Practice in the U.S.
As private equity firms inject billions of dollars into art-related ventures, competition is intensifying and the marketplace is transforming. As a result, the wealth management industry has put emphasis on a more holistic client service model, which has become a key motivator for incorporating art-related wealth management into their service offerings.
“We are witnessing the radical transformation of a $60 billion market as financial behemoths and ArtTechs converge on the old guard of art market professionals,” said Klein. “Forward-thinking wealth managers are considering new strategies to remain relevant, given these changing market dynamics. I look forward to working alongside clients to build innovative advisory and lending capabilities to differentiate their firms in the market now and in the future.”
“Capco recognizes that investing in fine art and collectibles requires the same attention as other classic asset classes,” said Kapin Vora, Head of Capco’s U.S. Wealth Management practice. “We were thrilled to bring in someone of Phillip’s caliber to lead what we believe will be an integral part of our expanding wealth management practice.”
Capco is a global management and technology consultancy dedicated to the financial services industry. Our professionals combine innovative thinking with unrivalled industry and domain expertise to offer our clients consulting expertise, complex technology and package integration, transformation delivery, and managed services, to move their organizations forward. Through our collaborative and efficient approach, we help our clients successfully innovate, increase revenue, manage risk and regulatory change, reduce costs, and enhance controls. We serve our clients from offices in leading financial centers across the Americas, Europe, and Asia Pacific.