Smith takes leading role at Baillie Gifford

Baillie Gifford has appointed a new chief investment officer as part of an internal reshuffle at the Edinburgh-based fund manager.

Gerald Smith will take up the post in April, replacing James Anderson, who has held the top investment role for the past four years. The firm said Anderson would "continue to play an active role" as head of the "long-term global growth" team. His other responsibilities include managing Baillie Gifford's 1.5 billion Scottish Mortgage Investment Trust.

Smith joined the firm - which also has offices in London and New York - in 1987 and has been a partner since 1998. As chief investment officer he will chair the fund group's investment policy committee.

Smith, who currently holds the post of deputy chief investment officer, said: "During James Anderson's tenure we have made huge improvements to our investment process. Looking to the future, we have an opportunity to build on this excellent foundation. Promoting healthy debate and the constructive exchange of ideas within and between our investment teams will be one of my main goals."

Meanwhile, Tom Coutts, who joined the firm in 1999, has been promoted to head of the European equity team. He will also take up the position next spring following the previously announced departure of Peter Hollis in April 2011.

Baillie Gifford has 66bn of assets under management and about 670 staff.