UK - Gareth Howlett, who was a director for Baillie Gifford Overseas, has joined Edinburgh-based Stewart Ivory Wealth Management, the private client division of Colonial First State Division which has assets for £22bn.

Howlett has wide experience of investment management in international markets, and was very involved in the development of Baillie Gifford's business in Europe, especially in Germany where the firm has a joint-venture with German firm Mannheimer Asset Management.

"This part of our business is going very well," says Ross Lidstone, partner at Baillie Gifford in Edinburgh. " We have recently expanded our relationship with Mannheimer and we are seeing a lot of interest in the services we are offering."

Lidstone believes that Howlett's departure will not affect the firm's strategies in Europe where the company its achieving a significant growth, mainly focusing on Germany, Italy, Scandinavia and Switzerland. "We are always looking for capable people to help with our European marketing services because this is an area where we are very interested in," Lidstone says.

Howlett's new role will be divisional director, responsible for the further development of the Stewart Ivory Wealth Management business, which currently manages £700m assets.

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