Leibovitz’s Portrait of the Spanish Monarchs | Photo from Vogue
Innovation Thrives with Tradition
In an era where AI reshapes industries, great artists like American photographer Annie Leibovitz (b. 1949) demonstrate the power of blending innovation with legacy. Her portraits of the Spanish Kings (2024), featured in La Tiranía de Cronos exhibition at Banco de España, bring this concept to life.
For the first time, Banco de España has commissioned official photographic portraits of the Spanish monarchs and its Governor, breaking the tradition of using painting that began in the 1780s when Banco de San Carlos, its predecessor, was founded by King Charles III and Francisco Goya painted the monarch.
Leibovitz’s portraits, captured in the Gasparini Room of the Royal Palace—built by King Charles III—feature an 18th-century astronomical clock, underscoring the enduring role of timepieces in the institution’s history.
Her diptych of the Monarchs—two photographs designed to be viewed together—merges institutional portraiture with digital techniques, demonstrating how legacy enhances reinvention.
Francisco Goya (1746–1828), Portrait of Francisco de Cabarrás y Lalanne, c. 1788 – Founder and Honorary Director of Banco de San Carlos, a predecessor of Banco de España | Photo by Artcipation
Inspired by Spanish Old Masters like Velázquez, Leibovitz use of natural light and chiaroscuro deepens the regal presence, while printing on primed polyester canvas with UV-curable inks further blurs the line between photography and painting.
In this fusion of past and present, the King appears in full military attire, while the Queen, in vintage Cristóbal Balenciaga, brings a modern twist.
Leibovitz’s portrait of former Governor Pablo Hernández de Cos (2018–2024) blends formality with intimacy. The Governor is seated in a relaxed pose at a long table, symbolizing justice and authority. He is framed by a 19th-century regulator clock, emphasizing timekeeping’s role in the economy, institutional continuity, and leadership.
Banco de España’s commitment to blending innovation with tradition is worth recognizing. A key milestone came in 1985 when it commissioned its first Governor’s portrait by a woman, Isabel Quintanilla, and its trust in Leibovitz’s vision marks another bold step. Perhaps, with Princess Leonor set to become Spain’s reigning Queen, the Bank could soon have its first female Governor.
Annie Leibovitz’s Portrait of Pablo Hernández de Cos, Governor of Banco de España (2018–2024) | Photo by Artcipation
The clocks, Leibovitz’s photographs, and Isabel Quintanilla’s painting are part of the La Tiranía de Cronos exhibition at Banco de España, open through May 31.
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Jose Taboada – Founder of Artcipation | Corporate Strategist
Key Sources: Banco de España
© 2025 Artcipation
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