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Christie's new department is called 20th & 21st Century Art group.

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The new division will be led by chairman Alex Rotter in the Americas and Giovanna Bertazzoni as vice-chairman in Europe.

In a statement, CEO Guillaume Cerutti said the new department reflects the “evolving market demand and the collecting habits of our clients” and will “present the best art from the periods across live, digital and private sale platforms”.

He added that the lockdown period has been an “unprecedented time of change and innovation” and “robust management” of Christie’s cost base is “critical”. This has resulted in “reducing headcount to ensure that we are as efficient as possible”.