The Citibanamex Collection to be Sold

One of Mexico’s most important private collections, with 2,000 Mexican artworks dating from the 18th century through today, will be sold after Citigroup decided to sell off Citibanamex, its Mexican retail banking operation. Citibanamex was an alliance between the National Bank of Mexico and Citigroup founded in 2001. Alberto Gómez Alcalá, the corporate director, says Citibanamex won’t sell them individually; instead, the collection will be included in the entirety of the bank’s sale.

The paintings, drawings, and other works, which are part of the Citibanamex collection, present a significant art history survey. Among the artists represented in the collection are Frida Kahlo, Diego Rivera, José Clemente Orozco, Leonora Carrington, Daniel Thomas Egerton, and Remedios Varo.

“It is an integral and indivisible part of what is for sale,” said Citibanamex corporate director Alberto Gómez Alcalá at a press conference this month, according to El País (Mexico).

Asked how much the artworks were worth, Gómez Alcalá said, “the number in pesos and cents that we can give does not matter. We say that it is invaluable, that it is a characteristic hallmark of the [Citibanamex] brand, and we are sure that it will continue to be so.”