International Financial Centres & The Power Of Art

The Medicis and Florence, Luxembourg and its Freeport, London and New York with their auction houses. Successful financial centres are also successful centres for art. How are art and finance related to each other? Can art elevate the standing of financial centres? Can financial centres help artists? Can art become an asset class?

The World Alliance for International Financial Centres (WAIFC) and its members will be examining this subject this year. Keiichi Aritomo, Executive Director of FinCity, Tokyo and Chair of WAIFC for 2023 and 2024 will discuss why this is an important topic for financial centres and what challenges he wishes to address with WAIFC. Adriano Picinati di Torcello, Director of Deloitte Luxembourg as a financial services practitioner has been working on the intersection between art and finance for more than 20 years and is one of the architects of Luxembourg’s art and finance cluster. Dennis Layton, Senior Advisor of McKinsey & Company is launching an art investment platform, Ikon Exchange which he describes as a “stock exchange for fine art” that provides art enthusiasts with an opportunity to own art and museums with cash flow to help them continue their work. We will discuss the following questions and themes:

  • Can art be a financial asset class? Can we expect a return?
  • Protection of artwork and artists as an “S” in ESG
  • Financial centres are expensive and can become inhabitable for artists. How can we balance gentrification and the creative energy artists can bring?


Keiichi Aritomo is the Executive Director of FinCity.Tokyo, which is to continuously promote Tokyo as a leading global financial city. He is also a co-founder and Board Director of JIAM (the Consortium for Japan International Asset Management Center). Keiichi used to be a Partner at McKinsey & Company, Deloitte, and PwC, where he specialized in the financial services industry and technology strategies across North America, Europe, Southeast Asia, and Japan. He has co-authored several books, including “Single View of Customer for Financial Institutions,” published by Kinzai and Shanghai Communication University Press in Japanese and Mandarin, respectively. He earned his MBA from the University of Warwick, in the UK, and his MSc from Nagoya Institute of Technology, majoring in Urban Transportation Planning.

Adriano Picinati di Torcello, Director, Management Consulting, Global Art & Finance Coordinator of Deloitte General Services. Adriano is the Art & Finance coordinator for the Deloitte group of member firms and has over 25 years of professional experience. He is the Global Art & Finance Coordinator for the Deloitte network. Consultant for the Finance, Art business and Cultural sectors, he is in charge of Art & Finance at Deloitte Luxembourg, an initiative he has been coordinating since its beginning. Deeply involved in creating awareness of art and finance, Adriano has initiated the international Deloitte Art & Finance Conference, which has become the annual benchmark event in the field. He is the co-author of the Deloitte and ArtTactic Art & Finance report. Being the spokesman of the Art & Finance initiative within Deloitte, he regularly speaks at international conferences.

Dennis Layton is a Senior Advisor to McKinsey. His work is focused on large scale Organization Transformation projects across the Financial Services, High Tech, Telco, Defense, Health Care and Private Equity Industries. Dennis has been a senior global leader at Oliver Wyman, EY and McKinsey and Company.

Dennis’ work at the intersection of management practices and performance transformation is widely cited, including Management Matters in Healthcare (which showed the correlation between specific management practices in hospitals and mortality rates and was highlighted by more than 40 leading global publications including The Economist) and Diversity Matters (the most widely cited research on the topic – more than 700 academic citations -- which showed the positive relationship between ethnic and gender diversity and financial performance).

Dennis graduated from Georgetown University with an honours degree in Sociology. Outside of his consulting career, he also served in the US Navy and at the Executive Office of the President (The White House), where he worked with the negotiating team that created the foundation for the Free Trade Area of the Americas. Dennis is the founder and CEO of Ikon Exchange ( which enables institutions and custodians to sell fractionalised shares in fine art to fund preservation, education and charitable activities. Dennis sits on the Board of Directors for the Lobkowicz Collections, one of the most important Old Master Art, Music and Architecture collections still in private family hands in the world.

Tuesday, 06 June 2023

9:00 - 10:00 BST


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