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Baillie Gifford “puts down roots” in Germany

Frankfurt_financial_districtScotland’s Baillie Gifford has opened its first client office in mainland Europe as part of a growth plan for the region.

The firm has appointed David Gaschik, who was recently made marketing director for Germany and Austria, to the new office in Frankfurt.

Acting as a “gateway to Europe”, the new opening comes after the fund manager opened an office in Dublin in March this year.

“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,” said joint senior partner Andrew Telfer.

Reporting to client service director Gavin Scott, Gaschik will look after current client relationships as well as seek out growth in the region.

Gaschik previously worked at First State Investments, leading the German side of its business for six years. Prior to that, he was at UBS Germany as head of wholesale distribution.

On April 23, Baillie Gifford announced that it is set to transfer £1.3 billion (€1.15 billion) of assets for 21,000 plan holders in ISAs, share plans and children’s savings to Hargreaves Lansdown.

The firm currently has 35 clients across 12 European countries representing around 10% of its total assets under management.

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