Fund manager Gordon Brown has stepped down from his position at Scottish investment management firm Baillie Gifford, What Investment reports. Steven Hay, head of the rates and currency team at the firm, will replace Brown and manage the Active Gilt Plus fund and the Baillie Gifford Cash fund.
He will also manage the Emerging Markets Bond fund alongside existing co-manager Sally Grieg. Hay managed the Active Long Gilt Plus fund since 2004 and also manages the Active Index-Linked Gilt Plus and the Active Long Gilt funds.
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