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Citi Is Busy Cataloging Kahlo, Rivera Paintings for Mexico Exit

  • Bank’s trove is among world’s best collections of Mexican art
  • Sale plans have art world, government officials on edge
Inside one of the galleries of Banamex’s Museo Foro Valparaiso in Mexico City.
Inside one of the galleries of Banamex’s Museo Foro Valparaiso in Mexico City.Source: Citibanamex

As it prepares to exit its retail-banking business in Mexico, Citigroup Inc. is taking on a task more often handled by museum curators or owners of art galleries: cataloging a collection of 4,000 paintings, textiles and historic buildings to be included in the transaction. 

The massive collection, which will be part of the sale, includes 700 pieces that are considered of national importance, including one by famed artist Frida Kahlo and a dozen by her partner Diego Rivera. Together, the vast trove held by the financial firm, known locally as Banamex, is considered one of the world’s best private collections of Mexican art.