Irishman Colm Kelleher is now in pole position to take over as global CEO of the US bank Morgan Stanley following the retirement of his long-time rival Paul Taubman.

The former chairman of Sotheby’s has been convicted of conspiring with rival auction house Christie’s to fix the commissions paid by sellers of fine art.

The former chairman of Sotheby’s was convicted today of conspiring with rival auction house Christie’s to fix the commissions paid by sellers of fine art.

The former boss of Sotheby’s was due to go on trial today accused of masterminding an international conspiracy with his counterpart at rivals Christie’s to rig commissions.

The former bosses of the world’s two largest auctioneers were yesterday formally charged with organising an ‘‘international conspiracy’’ to rig commissions.