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Evan Beard, a former Navy intelligence officer and Oxford economics graduate, is launching a new secondary market gallery called Beard & Co. on New York's Upper East Side after leaving Masterworks, the $1 billion art-tech startup where he ran its secondary market gallery Level & Co. Beard's career path includes stints at Deloitte and Bank of America, where he managed art financing operations and worked with major U.S. collectors. His new gallery will employ a half-dozen staff and function as a discreet private bank for collectors, offering services such as art loans, auction guarantees, consignments, and estate planning.

Masterworks Cofounders Face Legal Threats and Complaints

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Masterworks, a company that sells fractional shares of high-value artworks, is embroiled in a legal dispute with former executive Hai Min Tran. The company has filed a complaint in New York state court, alleging Tran resigned from his role as chief product officer before taking paternity leave and is now attempting to extract a financial settlement. Masterworks calls his subsequent claim of illegal termination "wholly meritless."

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Masterworks, an art investment platform, has filed a lawsuit in New York State Supreme Court against its former chief product officer, Hai Min Tran. The company alleges Tran threatened to sue for wrongful termination after his paternity leave, while Masterworks contends he voluntarily resigned before taking leave and that no part-time contract work was available for him upon his return.