Baillie Gifford appoints co-managers to replace bond heavyweights

Edinburgh fund management firm Baillie Gifford has promoted two staff to co-manager level on two of its bond funds to fill roles vacated by outgoing heavyweights, Stephen Rodger and Donald Phillips.

The firm said Lesley Dunn has been appointed to replace Mr Rodger as co-manager of the £727m Baillie Gifford Corporate Bond Fund, working alongside Torcail Stewart.

Mr Rodger is retiring in April after 17 years at the firm.

At the same time, Lucy Isles has been promoted to co-manager of the £458m Baillie Gifford High Yield Bond Fund, working with Robert Baltzer.

She will replace Donald Phillips, co-manager of the High Yield Bond Fund, who revealed this week that he is leaving Baillie Gifford in February for Liontrust to work alongside David Roberts and Phil Milburn, who also join that firm from Kames Capital later this month.

Ms Dunn was previously an investment manager in the high yield team having joined Baillie Gifford from Aberdeen Asset Management in 2016. She has 16 years’ experience in managing high yield and investment grade portfolios.

While Isles has been an investment manager in the high yield team since 2015, having joined Baillie Gifford as a graduate from the University of St Andrews in 2012.

James Budden, director of retail marketing and distribution at Baillie Gifford, said: “At Baillie Gifford we strongly believe in the merits of a team based approach to fund management. Lesley and Lucy have both played key roles in the credit team and their appointments to co-managers reflects the ongoing contribution they have made to the management of these funds.”