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News from Around the Art World: May 7, 2018

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Santiago Calatrava chosen to design public art sculpture at River Point

Santiago Calatrava’s 2,000-foot-tall Chicago Spire never did get built, thanks to a recession that had nothing to do with his spectacular design. But, Calatrava will leave his mark on Chicago, nevertheless.

The Spanish architect, structural engineer, sculptor, painter and all-around Renaissance man has been chosen to create an outdoor sculpture that will be installed at developers’ expense in the park at River Point, the 52-story office tower at Lake and Canal that includes a 1.5-acre public park over rail lines.

By Fran Spielman, Chicago Sun Times

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Art Institute of Chicago Name Ellenor Alcorn Chair and Curator of European Decorative Arts

The Art Institute of Chicago has appointed Ellenor Alcorn as the new chair and curator of the department of European Decorative Arts. Alcorn most recently served as a curator in the department of European Sculpture and Decorative Arts at the Metropolitan Museum of Art. She will join the museum in September.

Via Art Forum

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The art of diversity: how power is shifting at the top of US museums

Last month, former Nasa scientist Ellen Stofan walked into the National Air and Space Museum in Washington and unlocked the door to the director’s office – which, for the first time, was her own. It was a breakthrough moment, as the museum has always had a male director since it first opened in 1976, until now.

By Nadja Sayej, The Guardian

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Art, revolution and the ‘Golden Age of the Cuban Poster’

During a period of profound and rapid social and political changes, the Cuban poster boldly documented and embodied the spirit and ideals of the Cuban revolution. ‘Thanks to those daring, inspired artists, an important part of the visual memory of Cubans is indelibly imprinted in their bold graphic designs,’ writes Leonardo Padura Fuentes in Mira Cuba: The Cuban Poster Art from 1959 (2014). ‘It had a dignity and an aesthetic standing that turned the utilitarian poster into a milestone of Cuban cultural history in the second half of the twentieth century.’

Via Christie's

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Investing Canvas: Many Planners Add Art Valuation to a Portfolio Conversation

Art as investment for high-net-worth individuals is on its way to new heights, according to a 2017 report.

The global value of art held by ultrahigh-net-worth individuals is expected to rise to $2.6 trillion by 2026, up from $1.6 trillion in 2016, according to the report by consultants Deloitte Luxembourg & ArtTactic, an art-market research firm based in London.

By Jane Hodges, The Wall Street Journal

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