Baillie Gifford is expected to hire Jon Stewart from Aberdeen Standard Investments (ASI) as a real estate analyst within the firm’s income research team.

Mr Stewart will join its Edinburgh-based rival in early November after more than five years with ASI as fund manager and securities analyst for its global real estate equities team.

He had co-managed the firm’s Aberdeen International Real Estate Equity and Aberdeen Global Premier Properties funds.

Baillie Gifford partner Jan Oliver, who is responsible for the Edinburgh-based asset manager’s income strategies, told Investment Week the team was “excited about the experience he will bring to both out multi-asset and multi-asset income strategies”.

Oliver said the hire would give the team a dedicated real estate analyst for the first time.

Mr Stewart, a St Andrews University graduate in physics with photonics, began his career in the industry at Ignis Investment Management.