Scottish asset manager Baillie Gifford lands in Germany as part of its European expansion strategy and opens first office in Frankfurt.
David Gaschik, recently appointed marketing director for Germany and Austria, is based at the new office in Frankfurt. Gaschik will report to Gavin Scott who leads the eight-strong LatEMEA marketing and client servicing team from Baillie Gifford's Edinburgh office.
Andrew Telfer, joint senior partner, Baillie Gifford 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."
The office will provide a gateway to Europe for the firm, with additional salespeople joining the DACH team later this year. This follows the opening of a Dublin office in March this year.
Gaschik is an expert in sales and distribution in the DACH region, with experience of developing teams and companies in Europe. He will look after existing relationships and drive future expansion for Baillie Gifford focusing on financial institutions and the wholesale sector. David was previously at First State Investments where he led its German business for six years, and before that he was at UBS Germany as head of wholesale distribution.
Currently Baillie Gifford has 35 clients in 12 European countries representing €10bn or about 5% of total AUM.