Baillie Gifford is offering staff the option to take voluntary redundancy as part of its strategy to refocus the business on international markets.
CEO Tim Campbell recently issued an internal video update telling UK-based staff they have the option to exit the firm, according to people familiar with the situation, the FT reports.
The asset manager, which employs 1,600 people in the UK, is looking to serve more family offices, US and Asia intermediary clients, such as financial advisers and wealth managers, and customers wanting more exposure to private assets.
The voluntary exit programme would allow the company to retain roles while giving UK-based staff gave “the option to leave on enhanced terms”, the asset manager said, adding this was “intended to give people choice while ensuring the firm has the skills and resources needed to succeed in the years ahead”.
Baillie Gifford made redundancies in early 2024 but this is the first time the firm has offered a voluntary exit.
