Just as the summer season brings a lull to the art auction calendar, Sotheby’s has announced a leadership change. Elaine Holt, who joined the house in July last year as Chairman of Modern and Contemporary and Deputy Chairman of Asia, has stepped down after just one year in the role.
According to the auction house, Jasmine Prasetio, Managing Director of Sotheby’s Southeast Asia, will temporarily assume leadership of the Modern and Contemporary Art department in Asia. She will relocate from Singapore to Hong Kong for the interim. Meanwhile, Alex Branczik, Chairman and Head of Modern and Contemporary Art, Europe, will continue to oversee the Asia team remotely from London.
Elaine Holt left Sotheby's after one year in the role
Within Asia’s modern and contemporary art circles, Elaine Holt is a widely recognized figure.
Born in Hong Kong, Holt studied fine art in the United States before returning to her hometown to begin her career in the art world. She previously worked at Opera Gallery and at the Hong Kong office of Taiwanese auction house Ravenel. During her time with Ravenel, she met Giovanna Bertazzoni – now Vice Chairman of 20th and 21st Century Art at Christie’s – who invited her to join Christie’s in 2013. Holt started in the Impressionist and Modern Art department.
During her ten-year tenure at Christie’s, Holt focused primarily on Impressionist and Modern art, but also became involved in contemporary art. By the time she left the company in 2023, she held the titles of International Director of the Impressionist and Modern Art Department and Deputy Chairman for Asia.
Sotheby’s states that Holt’s departure after just one year is due to a desire to pursue new opportunities. As of now, her profile has been removed from the Sotheby’s team page.
Jasmine Prasetio will temporarily assume leadership of the Modern and Contemporary Art department in Asia
Jasmine Prasetio, who is stepping in temporarily, previously served as Managing Director for Southeast Asia. An Indonesian national, Prasetio studied economics at Wellesley College in Massachusetts, USA.
Driven by a personal interest in art, she joined Sotheby’s in 2004 as a Southeast Asian art specialist and steadily rose through the ranks. In 2021, she was appointed Managing Director for the region, playing a key role in expanding Sotheby’s footprint in Southeast Asia, particularly in Vietnam, Thailand, and the Philippines.
For now, Prasetio’s role as Chairman of Modern and Contemporary Art, Asia, is interim, and no permanent successor has been announced.
Alex Branczik, Chairman and Head of Modern and Contemporary Art, Europe
As for Alex Branczik, he led the department in Asia prior to Elaine Holt’s appointment. In 2021, he relocated from London to Hong Kong to take on the newly created role of Chairman of Modern and Contemporary Art, Asia.
In 2024, with Holt’s arrival, Branczik returned to a broader regional role covering Europe, the Middle East, Africa, and Asia. Though based once again in London, he continues to oversee the strategic direction of the Asia team, essentially continuing the structure that had already been in place.
What direction Sotheby’s Modern and Contemporary Art department in Asia will take under new leadership remains to be seen.