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Pall Mall Art Advisors, which was born out of the valuation departments of two UK and US auction houses Lyon & Turnbull and Freemans six years ago, will now manage clients from its offices across the US.

Doerr, who resigned from the art advisory group during the summer, said she will work with colleague Sean McIlroy of Piano Auctions and a team of consultants across the UK.

Doerr said: “There has been a huge amount of support from the insurance industry, including Hiscox, for our work. Valuations is a recognised and needed service that we provide.”

“Financial and operational reasons”

Pall Mall Art Advisors, which has offices in New York, Philadelphia, Los Angeles, Atlanta, San Diego and Silicon Valley, is run by US president Anita Heriot, chief executive Fraser Niven and chairman Todd Ruppert.

Heriot said it had closed its offices in London and Amsterdam during the summer for “financial and operational reasons” but will work with a number of consultants in the region including Federica Bonacasa who joined last year from The Fine Art Group.

Heriot said: “Since our launch in 2010, Pall Mall has seen significant growth in interest in America for our services and we have had an excellent response from collectors and the investment market.”

She said many of its global clients were based in the US with interests in the UK and Europe and the firm could continue to work with them from its US offices.

It advises 60 chief executives or founders of major companies as well as corporations and institutions such as banks Morgan Stanley and Wells Fargo.

The firm focuses on what Heriot described as “tangible asset management” – the buying, selling and valuing of fine art, jewellery, wine, cars and collectibles as well as advice on developing collections, donating to museums and related issues for wealthy clients.