Baillie Gifford has opened its first client office in mainland Europe. The asset manager has been growing its European subsidiary, Baillie Gifford Investment Management (Europe), since it was incorporated in Dublin in 2018.
The Frankfurt office is currently a “one-man band” – a base for David Gaschik, who was recently appointed marketing director for Germany and Austria.
The asset manager says told the press the office will be “a gateway to Europe for the firm” and that it has expansion ambitions for the three German speaking countries – Germany, Austria and Switzerland.
According to the company, Gaschik will be focusing on financial institutions and the wholesale sector. More sales staff are set to join later this year.
Baillie Gifford joint senior partner Andrew Telfer says: “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.”
Before working at Baillie Gifford, Gaschik led First State Investments’s German business for six years, and before that he was at UBS Germany as head of wholesale distribution. Gaschik will report to Gavin Scott who leads the eight-strong Europe, Middle East and Americas marketing and client servicing team from Baillie Gifford’s Edinburgh office.
The Baillie Gifford subsidiary, which provides investment management and advisory services to European clients, excluding the UK, now has 35 clients in 12 European countries.