The move was part of a plan to position itself for the future. The asset manager launched the voluntary exit programme in July, following its move to its new Edinburgh office in Haymarket Square.

The firm did not disclose which areas of its business were impacted by the scheme. It is understood that the firm offered an enhanced packed for staff who took the voluntary redundancy and is similar to other voluntary exit programmes by other asset managers.

According to its website, the firm employs 1,607 staff across the world, managing more than £200bn in assets.

A spokesperson for Baillie Gifford said: “Our voluntary exit programme has now concluded. We’re pleased with the outcome and the level of interest was broadly in line with our planning assumptions. The programme has accelerated our move towards more efficient ways of working, while retaining capabilities we need for the future.

“During a period of rapid growth, particularly through the pandemic, we increased our headcount significantly. Since then, we’ve learned a lot about how we can work differently, making better use of technology and building a more efficient and scalable business.

“The programme will help us reshape the firm for the future, giving colleagues choice while allowing us to adjust capacity in some areas and invest in the skills we need in others.

“We have strong teams across the firm and, as a private partnership, have always taken a long-term approach to succession and transition. We remain focused on our existing clients while investing for future growth, including in private companies, tokenisation and active ETFs.”