Baillie Gifford has named Gregory Turnbull Schwartz as replacement to Gerald Smith on its multi-asset income fund.
Head of multi-asset and partner at the group, Smith returned briefly to direct fund management in charge of the Multi-Asset Income fund last year, in one of his last acts before his forthcoming retirment in April.
Since April, Schwartz has been head of Baillie Gifford’s Investment Grade Credit team, having joined the firm in 2016.
Previously, he spent 10 years as an investment manager at Kames Capital, and before that he was at Citigroup in New York and Schroders in London.
‘Gregory has been central to the investment team on the Baillie Gifford Multi Asset Income fund from day one,’ said James Budden, director of retail marketing and distribution at Baillie Gifford.
‘This new role will see him assume greater responsibilities for decision making and overall portfolio construction, using his considerable knowledge and experience to benefit the senior investment team.’
Smith has been a partner since 1998 and previously served as the chief investment officer, and made his name as manager of the Monks Investment Trust for 10 years from 2005.
He has held myriad roles during his tenure with the firm. These include head of global opportunities, head of the emerging markets desk and portfolio manager.