Expansion for asset manager
Frankfurt provides gateway to Europe for Baillie Gifford
Frankfurt: first office
Baillie Gifford, the Edinburgh-based investment management partnership, has opened its first client office in mainland Europe as it embarks on expansion across the continent.
David Gaschik, recently-appointed marketing director for Germany and Austria, is based at the new office in Frankfurt.
Currently, Baillie Gifford has 35 clients in 12 European countries, representing €10 billion (£8.6bn) or about 5% of total assets under administration.
Andrew Telfer, joint senior partner, said: “Building Baillie Gifford in Europe will allow us to put down roots where we can be closer to our clients and support them with a depth of local expertise and stronger relationships. Frankfurt is just the start of this journey to extend the reach of our existing team in Edinburgh and explore opportunities across the region.”
The office will provide a gateway to Europe for the firm, with additional sales staff joining the Germany, Austria, and Switzerland (DACH) team later this year. This follows the opening of a Dublin office in March.
Mr Gaschik has worked in sales and distribution in the DACH region and will drive expansion for Baillie Gifford, focusing on financial institutions and the wholesale sector. He led the German business for First State Investments for six years, and before that he was at UBS Germany as head of wholesale distribution.
He will report to Gavin Scott who leads the eight-strong Latin America, Europe, Middle East and Africa marketing and client servicing team from the Edinburgh office.