Chad Leat collects art the way he lives his life—with bold moves, sharp instincts, and a deep appreciation for meaningful connection. While his name may echo in finance circles, where he's built a storied career spanning 30 years on Wall Street with Citigroup, JPMorgan Chase, and other companies, it’s the walls of his homes that truly reveal his inner passions.
Guided by art-world legends like Jock Truman and Holly Solomon in the ’80s and '90s, Leat has built a wide-ranging trove, from a John Giorno piece that prompts double takes from visitors to works by Wolfgang Tillmans and Jean-Michel Othoniel. In this conversation, Leat opens up about the piece in his home that never fails to provoke, why collecting isn’t just a Manhattan-based pursuit, and how a chance negotiation with American sculptor Tony Feher turned into a masterclass in art—and cocktails.
Where does the story of your personal collection begin?
Luckily, when I moved to New York in the ’80s, I befriended Jock Truman, one of the original gallerists for Betty Parsons. As you might guess, that was a lucky friendship. In the ’90s, I became friends with Holly Solomon, who more or less adopted me into the world of art and collecting. Over time, I was able to learn and acquire a great deal of art. Indeed, Holly helped me buy and actually installed most of the art in my Hamptons home.
What’s one thing people get wrong about the New York art scene?
I am not sure about one thing folks “miss,” but most non-New Yorkers would be surprised by the fact that "the art scene" is much more spread out than what one sees and buys in Manhattan. Whether museums, galleries, studios, or even educational institutions, the greater NYC area and its surroundings are fertile places to see, buy, and immerse oneself in art. From the East End of Long Island—home to many of the world’s most renowned artists over the last 60 years—to Brooklyn, the Hudson Valley, and New Jersey, there’s so much to explore beyond Manhattan.
Which work in your home provokes the most conversation from visitors?
The piece that gets the most attention is, of course, the John Giorno with its bold text, “I WANT TO CUM IN YOUR HEART,” vibrant colors, and sheer wall power. It’s hung directly across from one of his longtime partner and husband Ugo Rondinone’s "Target" paintings. That being said, after a tour, most folks are drawn to the two well-known Mapplethorpe self-portraits—man and woman—hung opposite one of Paul Mpagi Sepuya’s quasi-self-portraits.
Which artist are you currently most excited about and why?
Wolfgang Tillmans has been on fire for a very long time, and I’m lucky enough to own six photos he took of his assistant while in Brazil.
What factors do you consider when expanding your collection?
Firstly, I like to buy what I enjoy both visually and intellectually. I have works by many gay artists, but my collection is not limited by sexuality. I like to support artists I’ve met or those who present ideas or perspectives I find compelling.
How has your collection changed as your home and space has changed?
It has only changed by the fact that I am out of wall space. However, I bought an apartment in Paris about eight years ago and now have some incredibly talented French artists—Jean-Michel Othoniel, for example.
What are the three must-see shows this month?
"Arte Povera" at the Bourse de Commerce in Paris, the Alvin Ailey installation ["Edges of Ailey"] at the Whitney, and "Luna Luna" at the Shed.
Do you collect anything other than art?
A bit of wine.
What is the strangest negotiation you've ever had with an artist or dealer?
I’m not sure I have a negotiation to highlight, but I did ask Tony Feher for help fixing an issue with one of his works. He sent me detailed, numbered steps on how to replace the water in the bottle—along with final instructions to mix a gin and tonic and sit back to enjoy!
What piece of advice would you give someone who wants to get into collecting?
Get smart and get involved—it's the finest part of collecting art. If you’re a self-starter, there’s a myriad of ways to get educated not only about the market but art itself. If you can afford it, hire an advisor. Most importantly, visit museums, galleries, and get to know artists.
