Art Talk – Art, Wealth & Legacy : The art collection as a family governance project

Location: Art Talk Area, Luxembourg Art Week

Language: English

Guest Speakers:

Diana Diels, President of Luxembourg For Family Office

Maxime Bart, Executive Director of the Louvre Endowment Fund

Dinah Wajsgrus, Head of Development of the Louvre Endowment Fund

The art collection as a governance project with intergenerational transmission

For an UHNWI an art collection can occupy an unusual position in his Wealth Balance Sheet. It may be an investment, a passion, a family asset, a cultural memory, a responsibility or it can become a philanthropic vehicle, a legacy. The critical question is therefore not simple. It’s not Where should the collection be held ? but more What do we want this collection to evolve into in the future  ? this for families who think for next generations. Which form of stewardship correspond to the family’s identity ? The collection as a family governance project with intergenerational transmission. Art can carry a story that is part of it’s identity. A foundation can be used to create a multigenerational conversation. The family develops a shared cultural language.

Five European models for structuring cultural capital :

France: From collection to philanthropy; How can an art collection support the public cultural eco system?

Liechtenstein: The foundation as vessel for continuity, family OR cultural foundation, an independent patrimonial institution; How can a collector dedicate his art collection to an enduring purpose with public interest? The Foundation as an independent patrimonial institution.

Switzerland reveals the depth of the European philanthropic tradition : The foundation BETWEEN philanthropy and family patrimony; How can private capital be permanently dedicated to public benefit within a mature philanthropic environment?

The Netherlands shows the importance of governance: The Stichting and the vehicle of control with an art committee; Who governs the assets when there are no members or shareholders?

Luxembourg: The foundation as a cultural public-interest institution. How can a collection be separated from the collector and governed according to a long-term purpose?

And Last but not least, The Louvre Endowment Fund, probably the simplest model of all : the most powerful legacy is not to create a new institution but to strengthen an institution that has already outlasted generations. An elegant example. Rather than creating a private foundation to own the family’s collection, the collector can dedicate capital to an established cultural institution with her own governance, investment structure and curatorial expertise.

Biographies

Diana Diels is President of Luxembourg For Family Office and has helped shape the family office profession in Luxembourg since its earliest days. She is a senior executive in the financial sector, specialising in family businesses, wealth management, family offices, external asset management and risk & compliance standards. She studied economics and holds an MBA in finance. Accredited by the CSSF as an asset manager early in her career, she went on to serve as a board member of the Asset Managers Association. She has worked for banks and managed family businesses across the ICT, BPO and data centre sectors. With Wealth@Work she founded an independent family office platform, voted best start-up in the private financial cloud sector. Her expertise spans financial engineering and SOPARFI’s management, and for over thirty years she has served as an independent director on the boards of companies in the financial sector and of unlisted businesses.

Maxime Bart is a CAIA charterholder and holds a Master’s degree in Financial Markets from the University of Auvergne. In 2026, Maxime joined the Louvre Endowment Fund, driven by a desire to combine his investment expertise with a commitment to serving the public interest. He began his career in 2013 at the asset management arm of one of France’s leading banking groups, where he specialised in asset allocation and fund selection. In 2020, he moved into institutional investment management, joining VYV group as Head of Investments. He first oversaw the investment portfolio of Harmonie Mutuelle, one of France’s leading mutual insurance companies. In 2024, he took responsibility for the investment management of Groupe VYV’s €12 billion pension fund.

Dinah Wajsgrus is Head of Development at the Louvre Endowment Fund, where she leads philanthropic initiatives and develops partnerships with private donors and supporters to contribute to the Louvre’s long-term mission. She has built her career at the intersection of culture, philanthropy, and strategic partnerships, having held positions at the Louvre, the Centre Pompidou, the Grand Palais, and within France’s international cultural diplomacy network. She holds degrees from Audencia Business School and Boston University.