Baillie Gifford UK Equity Alpha manager Gerard Callahan will retire from the firm at the end of April next year after more than three decades.
Callahan has run the £1.1bn fund since 2000, the year he became a partner at the Edinburgh manager. He joined the business in 1991.
Milena Mileva (pictured) has been named co-manager on the UK Equity Alpha fund which she will take over completely next May. Mileva, who is currently lead manager on the Baillie Gifford UK Equity Focus fund and co-manager on the Baillie Gifford UK Growth trust, will also run the International All Cap Strategy, which Callahan chairs.
Callahan is one of three partners retiring from the fund group next year. Investment manager Angus Franklin and head of the UK clients team Lynn Dewar will also exit on 30 April 2022. They have been with the business for 27 and 29 years respectively.
Chris Davies will replace Franklin on the International Alpha Strategy, which he has helped manage since 2006. Davies will remain a manager on the Europe strategy.
Baillie Gifford currently has 47 partners and will announce its latest crop of promotions next January.
Andrew Telfer, joint senior partner, said: “Gerard, Angus, and Lynn have each made a substantial contribution to the firm, helping shape Baillie Gifford into the forward-thinking and inclusive organisation it is today.
“While they will be greatly missed by clients and colleagues, their retirement allows others the opportunity to take on new roles and responsibilities, driving progress and innovation across the firm.
“We believe that succession planning is a key strength of Baillie Gifford’s partnership model. It allows us to invest in talent and take a truly long-term approach, ensuring our clients’ interests are always put first.”
