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Renowned Mexican art collection to be managed by Spanish bank – The Art Newspaper

February 6, 2026
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Banco Santander introduced on 21 January that it’s going to handle 160 works from the Gelman Assortment of Twentieth-century Mexican artwork. The results of a long-term settlement with the Zambrano household, which acquired the gathering in 2023, this marks a brand new chapter for the famend non-public assortment of greater than 300 works (together with by Frida Kahlo and Diego Rivera) that has largely been out of public view since 2008.

Items from the newly branded Gelman Santander Assortment will make their debut this summer time within the inaugural exhibition at Faro Santander, Fundación Banco Santander’s new venue in Cantabria, Spain. However the settlement is complicated, as a few of the works are Nationwide Inventive Monuments underneath Mexican legislation, limiting their mobility and mandating oversight by the Instituto Nacional de Bellas Artes y Literatura (INBAL).

The gathering was began by Jacques Gelman, who was born in 1909 in St Petersburg, Russia. He arrived in Mexico in 1938 and have become a central determine within the Golden Age of Mexican Cinema, producing movies starring the celebrated actor Mario Moreno (recognized by the stage identify Cantinflas). Jacques married fellow emigré Natasha Zahalka in 1941. The couple was shut with a number of visible artists, together with Kahlo and Rivera—each of whom painted portraits of Natasha—in addition to Rufino Tamayo and Gunther Gerzso. Over time, the Gelmans acquired greater than 90 works (later often known as their “seed assortment”) by artists together with Francisco Toledo, David Alfaro Siqueiros, María Izquierdo and José Clemente Orozco.

“Fashioned as Trendy Mexican artwork was unfolding, the gathering displays the ambitions of mid-Twentieth-century collectors and the distinctive high quality of Mexico’s Trendy actions,” Ana Garduño, a researcher at INBAL, tells The Artwork Newspaper.

Diego Rivera’s Portrait of Natasha Gelman (1943) © 2026 Banco de México Diego Rivera Frida Kahlo Museums Belief, Mexico, D.F. / VEGAP. Picture: Gerardo Suter

The gathering’s prominence largely rests on its 18 Kahlo works—ten work, seven drawings and one print. “The gathering modified over time, however what sparks curiosity in it’s primarily Kahlo’s self-portraits,” says James Oles, a specialist in Trendy Mexican artwork and professor at Wellesley School in Massachusetts. “There are various different related items, however these are the works—initially acquired by Jacques—that made it well-known.”

Following Jacques’s loss of life in 1986, Natasha continued buying artwork, suggested by the American curator Robert R. Littman. When she died in 1998, Littman acted as executor of her will; he managed and expanded the gathering via the Vergel Basis, touring it internationally. (In 1998, the couple’s different assortment of 81 European Trendy works was bequeathed to the Metropolitan Museum of Artwork in New York. Additionally they owned a pre-Hispanic assortment.)

In 2008 the Gelman Assortment largely receded from public view, reportedly amid inheritance disputes, after being proven at Centro Cultural Muros in Cuernavaca, Mexico. Scrutiny resurfaced in November 2024, when INBAL blocked the sale of a 1940 Izquierdo portray at Sotheby’s, citing nationwide heritage legal guidelines.

In Mexico, the announcement of Santander’s deal has been largely met with scepticism. Many hoped the gathering would stay within the nation. (Natasha’s will allegedly notes that it ought to stay in Mexico and be proven at a non-public establishment.) Moreover, works by Izquierdo, Kahlo, Rivera, Siqueiros and Orozco are designated as Inventive Monuments underneath a 1972 Mexican legislation, entitling INBAL to oversee their conservation, location and copy. The legislation prohibits everlasting export, permitting solely regulated short-term loans.

David Alfaro Siqueiros’s Portrait of Natasha Gelman (1950) © 2026 Banco de México Diego Rivera Frida Kahlo Museums Belief, Mexico, D.F. / VEGAP. Picture: Gerardo Suter

Legally, although, the works are capable of stay in non-public palms. The Santander announcement revealed that the Monterrey-based Zambrano household, house owners of the cement large Cemex, had acquired the gathering in 2023.

“Authorities can solely confirm that processes adjust to present legal guidelines,” Garduño says. “They can not intervene decisively as a result of, regardless of their significance—and even when some are Inventive Monuments—they’re non-public property.”

Mexican authorities did not act whereas it was nonetheless attainable to take action and, over time, the gathering’s worth (notably of Kahlo’s works) has elevated considerably. “When Jacques was alive, Mexican authorities may have executed one thing to amass or negotiate the situations on which the gathering was dealt with or exhibited,” Oles says. “Sadly, now it’s too late.”

Fundación Santander holds that it verified the authorized framework. “We labored carefully with INBAL,” Borja Baselga, its director, advised The Artwork Newspaper in an announcement. “Each INBAL and the muse share a precedence: full compliance with customs rules and the works’ conservation.”

Frida Kahlo’s Self-Portrait with Necklace (1933) © 2026 Banco de México Diego Rivera Frida Kahlo Museums Belief, Mexico, D.F. / VEGAP. Picture: Gerardo Suter

In an announcement, Mexico’s cultural ministry described the settlement as “non-public” however confirmed the collaboration: “INBAL will supervise the works’ cargo to Spain and, alongside the muse, their conservation once they journey to exhibitions.” The ministry has additionally verified the gathering’s “optimum conservation”, with out offering particulars on the timeline for the short-term export. At a latest press convention, Faro Santander’s director, Daniel Vega, added that conservation issues are key.

In June, almost half of the 160 works managed by Santander—together with the famend “seed assortment” and a pictures assortment that includes works by Guillermo Kahlo, Manuel Álvarez Bravo and Graciela Iturbide—might be proven at Faro Santander. “The mortgage request is in depth and nonetheless underneath evaluate,” Vega mentioned. “It’s too early to specify the place the gathering, or elements of it, could also be proven.” He described a possible presentation in Mexico as a “precedence”.

“This stays a Mexican assortment of Mexican artwork, which we are going to handle to share with the world,” Baselga mentioned on the press convention.

For Garduño, the announcement prompts reflection. “That is a necessary message for Mexican collectors who’ve constructed consultant collections of nationwide artwork,” she says. “What future do they need for his or her holdings?”



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