Investments 

Baillie Gifford opens office in Germany

Baillie Gifford opens office in Germany

Edinburgh-based fund group Baillie Gifford has opened its first office in mainland Europe.

The office is in Frankfurt, and the company will base a marketing director, David Gaschik, at that office, followed by additional sales staff.

Mr Gaschik joined Baillie Gifford from First State Investments, and prior to that worked at UBS. Baillie Gifford stated his role will be to work with existing clients and to develop new relationships.

This office opening follows the opening of offices in Dublin and China during the past twelve months.

The office in China is a research office, rather than one with a marketing or sales function.

Baillie Gifford stated it has 35 clients in 12 European countries, with combined assets that represent 5 per cent of Baillie Gifford’s approximately £200bn assets under management.

Andrew Telfer, joint managing partner at the investment house, 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."

david.thorpe@ft.com