Edinburgh-based asset manager Baillie Gifford has set up a new office in the German city of Frankfurt.
The new location is the firm’s first client office in mainland Europe and is said to serve as a “gateway to Europe”.
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It will be run by David Gaschik, who previously headed the German unit at First State Investments and also worked at UBS.
Gaschik currently serves as the marketing director for Germany and Austria at Baillie Gifford.
In the new role, he will be tasked with overseeing client relationships and will focus on financial institutions and the wholesale sector.
He will report to head of the Latin America, Europe, Middle East and Africa marketing and client servicing team Gavin Scott.
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By GlobalDataPlans are on to further expand the sales team later in 2019.
This team is responsible for managing operations in Germany, Austria and Switzerland.
Baillie Gifford joint senior partner Andrew Telfer 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.”
Last year, Baillie Gifford announced plans to open an office in Dublin as part of Brexit contingency planning.
The asset manager has a client base of 35 across 12 countries in Europe.
