Investment manager Baillie Gifford is likely to make a number of redundancies as it reshapes its global workforce in response to evolving market conditions.
The Edinburgh-headquartered firm, which manages assets worth £200 billion, confirmed that is consulting with those affected, understood to be “less than 50”. The investment teams are not affected.
The restructuring is driven by a global decline in traditional final salary, or defined benefit (DB), pension schemes.
This shift requires a new approach to marketing services, with a greater focus on the intermediary market and individual savers.
Chris Murphy, a partner in the firm said it was pursuing “huge opportunities for growth” in the United States, Europe, and Asia.
A spokesperson for the firm said: “To stay resilient in a shifting client and business environment, we’re making strategic decisions that may result in some redundancies.
“We are currently consulting with a small number of colleagues whose roles are at risk. These are tough choices, but they will be treated fairly, with respect.”
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