Pursuits
Bonhams Fires Asian Deputy Chairman Renfrew Amid Art Slowdown
- Renfrew among eight people ousted, leaving 18 in Hong Kong
- Asian fine art market is slowing as competition heats up
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Magnus Renfrew, Bonhams deputy chairman of Asia, was ousted along with seven other Hong Kong-based employees, the latest casualties of the slowdown in the Asian fine art market.
“I was surprised and disappointed at the news,” said Renfrew in a phone interview in Hong Kong. “But there are already other opportunities emerging that are very exciting.” He was told Feb. 25 about his dismissal by Chief Executive Officer Matthew Girling who had flown to Hong Kong to announce the departures.