It has been reported by The Art Newspaper that Merrill Lynch, the wealth management and investment banking arm of Bank of America, has launched a public art project in southeast London in conjunction with Tate and Graffiti Life, a London street art collective.

Following a five-day workshop led by Graffiti Life, 60 young people from Southwark and Lambeth aged between 16 and 25, who are not in work, education or training, created a large-scale outdoor mural. The graffiti artwork is due to be unveiled on 2 May at the Bankside Open Spaces Trust.

“London is famous throughout the world for being a bustling hub for the arts, and it’s an immensely important part of our economy,” said Boris Johnson, Mayor of London. “If we are to preserve that heritage, Londoners must have the opportunity to participate and engage in the exciting art and cultural opportunities that our city has to offer.”

We certainly hope the bankers and Boris keep up this enthusiasm for urban art!