The money guys running Lehman Brothers were spectacularly clueless at making money, but perhaps they should have listened to their art buyers.
Their art collection realised US$12 million ($14.5 million) when it was auctioned after their fiery demise following the global financial crisis.
Corporate collections here don't reach such giddy heights but the ones open to the public next week as part of Auckland Art Week have grown to a healthy figure on the asset registers.
Simon O'Connor, managing partner at Ernst and Young in Auckland, said the firm had supported visual arts here and overseas for more than 20 years. That included sponsoring exhibitions and pro-bono activities.
"We are proud of our brand in the arts which allows us to engage with our people and broader communities," O'Connor said.
