Royal Academy: Searching for a successor

Sir Anthony, 71, who was chairman of Christie's auction house from 1993 to 1996, was named in court as the partner of Sotheby's chairman Alfred Taubman in a deal to fix the commission on art sales.

On Tuesday, Taubman, 76, was sentenced to a year in prison for his part in the scheme, which is said to have defrauded art sellers out of more than $400m (�275m) in the 1990s.

Sir Anthony refused to go the trial to face charges - although he cannot be extradited for an anti-trust case he faces arrest if he visits the US.

Taubman was sentenced to a year in jail

The Times reported that a number of artists were calling on Sir Anthony to resign after the details of the price-fixing scheme emerged.

He has made no comment on the move, but a statement issued by the Royal Academy said: "Sir Anthony Tennant has already informed the Royal Academy of his intention to stand down as Chairman of the Royal Academy Trust.

The statement also noted that the Royal Academy Trust is a charity that raises money for the Royal Academy, and is separate from the Royal Academy, whose Chairman is Professor Phillip King.