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IFAE, founded by David and Lee Ann Lester and bought last year by dmg world media, organises the Palm Beach International Art and Antique Fair among others but has long had ambitions for New York.

Mrs Borwick’s first role will be to help launch an IFAE fair at the Jacob Javits Center in Manhattan in September. The new director, who will remain based in London, is charged with recruiting dealers for the Javits show.

David Lester is aiming for around 150 international dealers at his new venue, with more than 60 from Europe and the UK.

Victoria Borwick told the Antiques Trade Gazette: “Dealers are very keen to have a large fair that will enable them to sell in New York. There have been significantly fewer US buyers over here in recent months and this is a great opportunity for dealers to take a substantial amount of stock to a very important marketplace.”

She added: “Now that IFAE are backed by dmg world media they have the resources to make this a very successful event.”

Mark Carr, head of dmg’s antiques division, commented: “We recruited Victoria because of the skill and commitment she showed in building Olympia up over the years, and the tremendous kinship she has with the antiques trade. We are delighted she has joined us.”

It will come as no surprise to much of the trade that Mrs Borwick has joined dmg, who have been actively wooing her since her dismissal from Olympia. She is the latest in a series of additions to the IFAE team since dmg acquired the organisers last spring.