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Baillie Gifford Names New CIO

Wendy Spires

15 October 2010

Baillie Gifford, the Edinburgh-based investment manager, has appointed Gerald Smith as its new chief investment officer, effective from April of next year.

Smith, who is currently deputy CIO and chairman of the emerging markets investment policy committee, first joined Baillie Gifford in 1987 and has been a partner since 1998. He is also chairman of the ACWI Alpha portfolio construction group, manager of the Monks Investment Trust and head of the global opportunities team.

In his new role Smith will succeed James Anderson, who has been CIO since 2006. Anderson will continue to play an active role at the firm as head of the long term global growth team, chairman of the EAFE Alpha portfolio construction group, manager of Scottish Mortgage Investment Trust, a member of the investment policy committee and as a partner, Baillie Gifford said in a statement.

“James has been an excellent CIO and now hopes to be able to spend more time managing specific client investments. We both think that five years is about the right length of time in the CIO role. As a partnership, we are able to share and rotate some managerial duties and the CIO position is a good example with James choosing to pass on this responsibility at a time when performance has been strong for many clients,” said Charles Plowden, joint senior partner.

The firm additionally appointed Tom Coutts as head of its European equity team, also effective from April 2011. Coutts will succeed Peter Hollis, whose decision to leave the firm for personal reasons was first announced at the start of this year. Coutts has been with the firm since 1999 and is described by Baillie Gifford as a “key member of the European equities team.”