By Ian McConnell
JAMES Anderson is stepping down as joint manager of Scottish Mortgage Investment Trust and retiring from Scottish funds house Baillie Gifford on April 30 next year.
Mr Anderson, who has gifted large sums of money to Scottish football clubs to help them through the coronavirus crisis, will on April 29 this year be nominated to stand as non-executive chairman of the Swedish investment company Kinnevik AB, a company quoted on the Nasdaq Stockholm Stock Exchange.
Tom Slater, Scottish Mortgage’s other joint manager, will continue as manager of the investment trust. In what is described as the “next step in the long-term transition plan”, Lawrence Burns will become deputy manager of the trust with immediate effect.
Andrew Telfer, joint senior partner of Baillie Gifford, said: “James has been central to the strategic leadership and growth of Baillie Gifford. He has encouraged us to be ambitious as a firm and has instilled a long term, global and index-agnostic approach to our investing. And, most importantly, James has achieved remarkable investment returns for our clients. We are giving our clients a year’s notice that he is leaving the firm. Our transition process is tried and tested over generations, and we have developed talented successors in each of James’s teams in recent years.”
Mr Anderson joined Baillie Gifford in 1983 and became a partner four years later. He led Baillie Gifford’s European equity team and after this co-founded the long-term global growth strategy in 2003.
He has been manager of Scottish Mortgage since 2000 and, since 2015, joint manager with Mr Slater.
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