Hedge funder Britton heads Tate’s US drive
Paul Britton, founder and CEO of Capstone Investment Advisors which oversees funds worth almost £5.8bn, is to chair Tate Americas Foundation Board of Trustees.
Britton succeeds Pamela Joyner in the drive to raise financial support for Tate from across the Atlantic. The board has also chosen its first president, the risk management adviser Bob Rennie.
Tate Americas Foundation acquires works of art from the Americas for presentation to Tate and raises money to grant to Tate for the support of capital programmes, scholarship, exhibitions and education. Since its foundation in 1999 it has raised over £250m.
Paul Britton, a long-standing supporter of Tate and a trustee of the foundation since 2015, is a member of its executive committee and chairs the investment committee. “Throughout my involvement with Tate I have found it to be intellectually exciting. Support from the Americas is critical to maintaining its position of prominence among global art museums” he said. “It is an honour to be provided this opportunity to work more closely with and for Tate, and it will undoubtedly present both a challenge and enormous opportunity at this unique moment and in the months and years to come”.
Tate director Maria Balshaw welcomed the two appointments. “We are thrilled to have the opportunity to work with Paul Britton and Bob Rennie to further our vision to be an artistically adventurous and culturally inclusive global art institution” she said. “Their demonstrated interest in the arts combined with impressive records of business achievement, and a long-term commitment to Tate Americas Foundation, make them outstanding choices for these roles”.