Renowned Mexican art collection to be managed by Spanish bank
Banco Santander announced on 21 January that it will manage 160 works from the Gelman Collection of 20th-century Mexican art, following a long-term agreement with the Zambrano family, which acquired the collection in 2023. The newly branded Gelman Santander Collection will debut this summer at Faro Santander, the bank's new venue in Cantabria, Spain. The collection, started by Russian-born film producer Jacques Gelman and his wife Natasha, includes major works by Frida Kahlo, Diego Rivera, Rufino Tamayo, and others, but has been largely out of public view since 2008 amid inheritance disputes. The agreement is complicated by Mexican law, which designates many works as National Artistic Monuments, restricting their permanent export and requiring oversight by the Instituto Nacional de Bellas Artes y Literatura (INBAL).