Baillie Gifford has appointed Citywire AA-rated fund manager Gary Robinson (pictured) as a partner as one of its veterans steps down.  

Gerald Smith, who has been a partner since 1998 and previously served as the chief investment officer, is set to retire in April. 

It is unclear who will replace Smith on the Baillie Gifford Multi-Asset Income fund, which he manages alongside Scottish American (SCAM) manager James Dow and bond manager Steven Hay.

Smith, who made his name as manager of the Monks Investment Trust for 10 years from 2005, had only just returned to frontline fund management in September to launch the fund. 

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. 

Alison Warden, who worked in finance and operations, and Jonathan Bates, an investment manager on the ACWI Alpha strategy, are also retiring as partners at the firm.

Jan Oliver, who is a director in the firm's clients department with responsibility for income strategies, will become a partner alongside Robinson in May.

Andrew Telfer, joint senior partner at the firm, said: ‘We are inviting Jan and Gary to join the Baillie Gifford partnership, due to their substantial contribution to date and the increasing leadership roles that they will play in future.

‘At the same time, we all thank Gerald, Alison and Jonathan for their many years of exceptional service to our clients.’

Robinson is the top performing US equity fund manager over the last three years to the end of December. He has returned 73.4% on his Baillie Gifford American fund in this time versus a peer group average of 39.9%.