According to Andrew Russeth in GalleristNY, Simon de Pury has announced that he will be leaving Phillips de Pury in January after twelve years as chairman. The departure follows the auction house’s acquisition by Mercury Group, a Russian investment company, in 2008. Said de Pury, “I embark on new adventures comfortable with the knowledge that the company is in an excellent position and has been going from strength to strength.” The auction house, which from now on will be known as Phillips, also revealed its plans to expand its space at 450 Park Avenue.