The success of Sydney Modern at the Art Gallery of NSW could spark the appetite of other deep-pocketed donors to invest in similar, culturally significant projects, according to investment banker David Feetham who has taken the top fundraising job at Sydney’s Australian Museum.

A week after being appointed to chair the Australian Museum Foundation, the Gresham deputy chair is upbeat about the prospect for philanthropy in a year in which consumer spending is expected to contract and not-for-profit bosses are expecting donors to tighten their belts.