UK investment management firm Baillie Gifford has opened a new office in Frankfurt as it targets growth in mainland Europe.
The company confirmed in a statement that the Frankfurt office will serve as a gateway to Europe, with additional salespeople set to join the Germany, Austria and Switzerland (DACH) team late this year.
Baillie Gifford currently has 35 clients in European countries representing €10 billion, or 5%, of its total assets under management. The opening of the Frankfurt office follows Baillie Gifford’s move to establish an entity in Dublin last year to prepare for the UK’s departure from the European Union.
“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 Andrew Telfer, joint senior partner at Baillie Gifford. “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 Gaschik will lead the Frankfurt office as marketing director for Germany and Austria, overseeing existing relationships and driving expansion from financial institutions and the wholesale sector. Gaschik joins Baillie Gifford from First State Investments where he led its German business for six years. Prior to that, he was at UBS in Germany as head of wholesale distribution.
Gaschik will report to Gavin Scott, who leads the Latin America, Europe, Middle East and Africa (LatEMEA) marketing and client servicing team consisting of eight people in Baillie Gifford’s Edinburgh office.