The Wall Street Journal has some valuable details on the selection of Guillaume Cerutti as the new CEO of Christie’s:

Ms. Barbizet said she and Mr. Pinault sought to woo Mr. Cerutti from Sotheby’s in part because he maintains powerful connections in the complex French art scene; he’s also known for admiring contemporary art. “He’s the right and wonderful choice,” she said Wednesday.

This interpretation raises some interesting questions about Christie’s insularity as a French-owned auction house headquartered in London. That feeling is magnified by this later paragraph at the end of the story:

Mr. Cerutti, who will be based in London, said he plans to travel to New York, Hong Kong and Beijing over the next few weeks to meet with the house’s major collector clients, many of whom own coveted masterpieces but have been hesitant to auction them off amid the uncertain marketplace. Mr. Cerutti’s role will be to reassure them that “demand is there for the best,” he said.

It cannot be the case that Cerutti believes supply side of the art market is blocked by the simple lack of reassurances. Can it?

Christie’s Hires New CEO  (WSJ)