Art, Legacy and Investment: A Broader Conversation
November 2025
On 4th November, Circle Art Gallery hosted an evening dedicated to exploring how art intersects with legacy and investment in East Africa. The event was co-designed by Circle’s Danda Jaroljmek and Waugh McDonald’s John McDonald and co-sponsored by Coulson Harney (Bowmans) and Waugh McDonald. It brought together voices from professional advisors, collectors and the creative sector to consider a question that resonates globally: how does art fit into the ecosystem of wealth, culture and value creation?
Why This Matters Beyond Family Legacy
Globally, art is gaining recognition as more than a collectible. It is cultural capital, a store of value and a strategic asset that can influence identity, reputation and continuity. Markets are expanding, institutions are investing and families are asking how art should be integrated into governance and planning. This is not just about aesthetics. It is about positioning art within a framework that includes financial, cultural, human and social capital.
Perspectives That Shaped the Dialogue
The panel explored the ecosystem from multiple angles, with each speaker offering a distinct lens:
Richard Harney - Coulson Harney (Bowmans): Why Coulson Harney built its own corporate collection and the legal frameworks that support stewardship.
John McDonald - Waugh McDonald: How art collecting can be structured as part of family legacy and wealth planning, and the governance structures that enable continuity.
Sunny Dolat - Nest Collective: The role of cultural identity and creative expression in East Africa’s art scene.
Don Handa - Nairobi Contemporary Art Institute: Institutional collecting and its impact on public engagement.
Susie Goodman & Alastair Meredith - Strauss & Co: African art markets and the role of auctions.
Priya Cherickel - Private Collector: Reflections on collecting and legacy.
Panel Host: Danda Jaroljmek, Director of Circle Art Gallery and curator of the East Africa Art Auction.
The shared understanding was clear: art is not just an object. It is a story, a value and a legacy and increasingly, an investment.
Why Waugh McDonald Involved
For Waugh McDonald, this conversation reflects our ethos. We believe wealth planning should align financial capital with cultural capital and recognise the broader forms of capital that families steward: human, social, intellectual and values based. Art can be a powerful connector across these domains. When families approach collecting thoughtfully, it becomes part of their story and part of a wider ecosystem that is shaping the future of wealth and culture.
Our own collection reflects this ethos. It is curated to embody quality, continuity across generations and a blend of traditional and modern works. For us, art is not only an expression of taste but a statement about values and the importance of integrating cultural capital into long-term planning.
John McDonald shared:
“Art collecting is a blend of cultural and financial capital. When families approach it thoughtfully, it becomes a powerful component of creating cohesiveness and continuity. That is what family wealth advisors are concerned with, helping families steward both their financial resources and their shared identity.”
The Feedback
Attendees praised the event for its depth and diversity of perspectives. It opened space for new thinking about wealth, meaning and the future of collecting in East Africa. These conversations matter because they challenge assumptions and create opportunities for families and institutions to steward both financial and cultural capital.
If you’d like to explore how art or other forms of cultural capital can be integrated into your family’s governance and planning, reach out to us at info@waughmcdonald.co.ke we’d be glad to start the conversation.
