Baillie Gifford: Difference between revisions
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{{Infobox company |
{{Infobox company |
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| name = Baillie Gifford |
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| logo = [[File:Bgifford.png]] |
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| type = [[Partnership]] |
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| foundation = 1908 |
| foundation = 1908 |
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| location = [[Edinburgh]], [[Scotland]] |
| location = [[Edinburgh]], [[Scotland]] |
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| subsid = |
| subsid = |
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| homepage =[http://www.bailliegifford.com www.bailliegifford.com] |
| homepage =[http://www.bailliegifford.com www.bailliegifford.com] |
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| caption = |
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| footnotes = |
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'''Baillie Gifford''' is an [[investment management]] firm which is wholly owned by 37 partners,<ref>[http://www.bailliegifford.com/about-us/who-we-are.aspx Baillie Gifford: About Us]</ref> all of whom work full |
'''Baillie Gifford''' is an [[investment management]] firm which is wholly owned by 37 partners,<ref>[http://www.bailliegifford.com/about-us/who-we-are.aspx Baillie Gifford: About Us]</ref> all of whom work full-time for the firm. It was founded in [[Edinburgh]] in 1908 and still has its headquarters in the city. Assets under management exceed £90 billion (as at 31 March 2013). |
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==History== |
==History== |
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Baillie & Gifford WS was formed in 1907<ref>Burns, Page 3</ref> as a partnership between Colonel [[Augustus Baillie]] and [[Carlyle Gifford]]. Initially, it was a law firm but the financial climate of the time led to the business switching its emphasis to investment in 1908. In 1909, Baillie & Gifford created the Straits Mortgage and Trust Company Limited<ref>Burns, Page 6</ref> to lend money to [[Rubber plantation|rubber planters]] in [[British Malaya|Malaya]]. |
Baillie & Gifford WS was formed in 1907<ref>Burns, Page 3</ref> as a partnership between Colonel [[Augustus Baillie]] and [[Carlyle Gifford]]. Initially, it was a law firm but the financial climate of the time led to the business switching its emphasis to investment in 1908. In 1909, Baillie & Gifford created the Straits Mortgage and Trust Company Limited<ref>Burns, Page 6</ref> to lend money to [[Rubber plantation|rubber planters]] in [[British Malaya|Malaya]]. |
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The Straits Mortgage and Trust Company Limited was renamed [[Scottish Mortgage Investment Trust|The Scottish Mortgage and Trust Limited]] in 1913,<ref>Burns, Page 12</ref> and this was followed by the introduction of several other [[investment trust]]s. Baillie Gifford’s clients and staff emerged relatively unscathed from the First World War, and the ‘[[Roaring Twenties]]’ gave Gifford many opportunities to expand the firm’s investment business. By 1927, the transition of Baillie & Gifford WS from a firm of solicitors conducting institutional investment business to a partnership managing investment trusts was completed with the creation of Baillie Gifford & Co.<ref>Burns, Page 28</ref> The firm continued to grow steadily until the outbreak of the Second World War. |
The Straits Mortgage and Trust Company Limited was renamed [[Scottish Mortgage Investment Trust|The Scottish Mortgage and Trust Limited]] in 1913,<ref>Burns, Page 12</ref> and this was followed by the introduction of several other [[investment trust]]s. Baillie Gifford’s clients and staff emerged relatively unscathed from the First World War, and the ‘[[Roaring Twenties]]’ gave Gifford many opportunities to expand the firm’s investment business. By 1927, the transition of Baillie & Gifford WS from a firm of solicitors conducting institutional investment business to a partnership managing investment trusts was completed with the creation of Baillie Gifford & Co.<ref>Burns, Page 28</ref> The firm continued to grow steadily until the outbreak of the Second World War. |
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[[Augustus Baillie|Baillie]] died in 1939<ref>Burns, Page 43</ref> and, the following year, [[Carlyle Gifford|Gifford]] was posted to New York on UK Government business. However, the firm survived the war and the troubled investment climate which followed. After a period of strong growth in the firm’s staff and client base, Gifford retired in 1965<ref>Burns, Appendix III</ref> at the age of 84. Baillie Gifford emerged from a further period of economic weakness in the UK during the 1970s with its position enhanced by growth in the amount of money it managed on behalf of clients. |
[[Augustus Baillie|Baillie]] died in 1939<ref>Burns, Page 43</ref> and, the following year, [[Carlyle Gifford|Gifford]] was posted to New York on UK Government business. However, the firm survived the war and the troubled investment climate which followed. After a period of strong growth in the firm’s staff and client base, Gifford retired in 1965<ref>Burns, Appendix III</ref> at the age of 84. Baillie Gifford emerged from a further period of economic weakness in the UK during the 1970s with its position enhanced by growth in the amount of money it managed on behalf of clients. |
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Revision as of 10:46, 24 August 2013
| File:Bgifford.png | |
| Company type | Partnership |
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| Industry | Investment management |
| Founded | 1908 |
| Headquarters | Edinburgh, Scotland |
Key people | Andrew Telfer, Senior Partner |
| Website | www.bailliegifford.com |
Baillie Gifford is an investment management firm which is wholly owned by 37 partners,[1] all of whom work full-time for the firm. It was founded in Edinburgh in 1908 and still has its headquarters in the city. Assets under management exceed £90 billion (as at 31 March 2013).
History
Baillie & Gifford WS was formed in 1907[2] as a partnership between Colonel Augustus Baillie and Carlyle Gifford. Initially, it was a law firm but the financial climate of the time led to the business switching its emphasis to investment in 1908. In 1909, Baillie & Gifford created the Straits Mortgage and Trust Company Limited[3] to lend money to rubber planters in Malaya.
The Straits Mortgage and Trust Company Limited was renamed The Scottish Mortgage and Trust Limited in 1913,[4] and this was followed by the introduction of several other investment trusts. Baillie Gifford’s clients and staff emerged relatively unscathed from the First World War, and the ‘Roaring Twenties’ gave Gifford many opportunities to expand the firm’s investment business. By 1927, the transition of Baillie & Gifford WS from a firm of solicitors conducting institutional investment business to a partnership managing investment trusts was completed with the creation of Baillie Gifford & Co.[5] The firm continued to grow steadily until the outbreak of the Second World War.
Baillie died in 1939[6] and, the following year, Gifford was posted to New York on UK Government business. However, the firm survived the war and the troubled investment climate which followed. After a period of strong growth in the firm’s staff and client base, Gifford retired in 1965[7] at the age of 84. Baillie Gifford emerged from a further period of economic weakness in the UK during the 1970s with its position enhanced by growth in the amount of money it managed on behalf of clients.
Assets under management continued to grow strongly during the 1990s. The firm altered the management structure when it reverted to having joint senior partners. And, as the new millennium approached, another huge change occurred with the increased use of technology – a necessary evolution as the business expanded and the client base became increasingly complex.
By the time of its centenary in 2008, Baillie Gifford had offices in New York and London in addition to its headquarters in Edinburgh, and was managing more than £50 billion. Clients included five of the seven largest pension funds in the US and the firm had also attracted significant levels of business from Japan and Australia, as well as continuing to make inroads in other parts of the Far and Middle East.[8]
References
- ^ Baillie Gifford: About Us
- ^ Burns, Page 3
- ^ Burns, Page 6
- ^ Burns, Page 12
- ^ Burns, Page 28
- ^ Burns, Page 43
- ^ Burns, Appendix III
- ^ Baillie Gifford: About Us
Further reading
- Burns, Richard (2008). A Century of Investing: Baillie Gifford’s First 100 Years. Edinburgh: Birlinn Limited. ISBN 978-1-84158-781-3.