Investment Management Graduate Programme

BE CURIOUS ABOUT OUR WORLD

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WELCOME
The world is a very interesting place. Small events trigger large consequences. Ideas spread many thousands of miles in a few minutes. Industries arise, fade, adapt or transform completely. Thats why we believe it is important to be curious; to question, to analyse, to understand. By looking at the world around us with curious eyes, weve added value for our clients over the long term. Come to us with an inquisitive mind and you could build an amazing career.

ABOUT BAILLIE GIFFORD

We are an independently owned investment management firm. With over a century of history behind us and with 7 out of the 10 largest pension funds in the world as clients, we believe we have a strong future ahead of us as a partner owned and operated business. We have a focus on stability, allowing us to take a long-term view for both our clients and the people who work here.

WHY US?

INVESTMENT MANAGEMENT
We hire graduates from a wide range of academic disciplines, from finance related courses through to Physics, English Literature and Classics. We would therefore expect that many of you might not be all that familiar with our industry. As an investment management firm, we manage money for a wide range of international clients, from the large pension funds of companies and local authorities through to individual private investors. We invest the money on their behalf, deciding which companies, stockmarkets and other asset classes to invest in. Financial markets will move up and down over short periods in ways that we cannot control or predict but, by analysing and understanding the key fundamental drivers behind this range of potential investments, we use our experience and judgement to select sound investments capable of producing superior long-term returns for our clients. We are also very mindful that our clients have entrusted us to look after their money so, in addition to delivering good long-term investment returns, we also strive to sustain excellent client service by communicating regularly with them.

We think there are three simple reasons to work for Baillie Gifford: The work Fascinating intellectual challenges. Discussion and direct contribution. Rewarding, variety-filled days that constantly give you new knowledge, ideas and skills. The people Our interview process and the graduate programmes both place an emphasis on meeting many of your future colleagues. They are smart, motivated people and our teams have an open, supportive and collegiate feel because of that. The long view Our business is built on careful consideration and patient, thoughtful investment. Put simply, we work in years, not quarters, months or days. Our partnership structure allows us to create a strong, vibrant organisation that provides a great service for our clients and an unrivalled environment for personal success and development. We believe it takes time and careful management to build a portfolio and this thinking informs the recruitment, training, support and development our colleagues receive.

THE INVESTMENT MANAGEMENT GRADUATE PROGRAMME

OUR INVESTMENT MANAGEMENT TEAMS

Our teams are set up to deal with different areas of the world and different types of investments. The teams are deliberately small to foster a collegiate and personal working environment that allows for discussion and debate. As a new Investment Management graduate, you will join a team with fund managers and senior analysts. This means you will be exposed to the ideas, questions and insights of senior people from your first day.

Our Investment Management graduate programme is one of the key ways that we bring new ideas, perspectives and talent into the business. As a graduate investment analyst, you will spend your first three years with us learning to become an effective and nuanced judge of the companies we invest in. You will work directly with our fund managers, partners and experienced analysts, learning, asking questions and contributing from the start. After three years, you will be a trained analyst, producing the high quality reports and analysis that we rely on to make good decisions. You could become a senior analyst, broadening your knowledge or specialising in particular industries or regions. You could become a fund manager, directly making the investment decisions that contribute to our long-term investing strategy. Or you could get involved with client management, forging and strengthening the strong relationships that we build with the organisations that trust us with their money. Whatever you choose to do, you will be starting from a solid grounding of coaching and early contribution. You will develop your skills and knowledge in a close-knit and intellectually rigorous working environment that focuses on providing the space and resources that will allow you to really think. Finally, you will have the opportunity to continue your career in an organisation that values curiosity, intellect, insight and new ideas.

WHAT MAKES AN INVESTMENT ANALYST?

Our investment analysts have a fascinating job; to try and understand and explain the world. Each has a keen interest in a wide array of subjects. They are naturally inquisitive, looking for the context and the specifics of current events, technological breakthroughs, scientific discoveries, trade movements and the fluctuations of the markets. By thinking beyond the balance sheet and the quarterly earnings statement, our analysts are able to provide us with the clear thinking and rational analysis that helps us to deliver great returns for our clients.

HELEN XIONG CONTINUALLY LEARNING

Ive been here for three years. I think I expected a typical corporate experience when I joined, but I enjoy my job as much as I did the first year. Once the induction training is done and you get onto a desk, thats when it starts being really enjoyable. I started in Developed Asia in the first year, which is mostly Japan, Australia, Hong Kong and Singapore. In the second year I worked in UK equities and in the third year Ive been working in North American equities. It was interesting to see how the different teams worked. They had their own approach to investing. Thats one of the advantages of rotation, you get to work with different investors and every investor has a slightly different approach you get to learn new things from each of your colleagues. Were also encouraged to form our own opinions. If you take any two partners, they wont think alike and I think thats one of the great things about this firm. There is also a lot of idea sharing within the firm. You have these weekly meetings between all the investment teams and they talk about what theyre working on and what is interesting and you can get ideas from that. I did economics at university but degree subject is a lot less relevant than you might think. You need to be able to collate a lot of information and translate it into a clear and useful opinion. Edinburgh is a beautiful city. Its one of the few cities in the world that has an extinct volcano and a beach within sight of each other. There is a lot of support for learning and education, both on the job and for professional qualifications. Six months after I joined I went to Japan and I was given the chance to meet a lot of the companies we were seeing myself. There was a real focus on ensuring that I took on early responsibility and learnt a lot from that experience. When you join, there is a lot you dont know, but you begin training and learn a lot very quickly. Over the three years you realise how much you dont know yet, but you also learn how to deal with uncertainty and develop your knowledge. As you go on, you gain a lot more confidence and a lot more freedom to decide what you want to look at next.

YOUR TRAINING
In your first three weeks We will take you through a structured classroom-based induction course that will teach you the basics of investment analysis, introduce you to the firm and give you an overview of the clients that we work with. Youll learn the basics of accounts analysis, how to structure and present your investment research and different styles of investing. After your first three weeks You will join your first team and begin the on-the-job coaching and learning that will be at the heart of your development as a Baillie Gifford professional. You will also have some further classroom training throughout this time as well as one-to-one meetings and half-day learning sessions. In your first year During this time, you will work towards CFA (Chartered Financial Analyst) Level 1 and IMC (Investment Management Certificate) qualifications with full support from the business including payment of registration and materials and time to study. You will also spend your first year with a single team, learning about their specialism in detail, before rotating to another team. In years two and three You will have the option to continue with CFA Levels 2 and 3, again with full support. You will also rotate each year to a new team, gaining a broad view of the different investments and geographies we work in as a company. After the first three years Learning is an ongoing process for everyone at Baillie Gifford, with business-wide support for gaining professional qualifications and multiple opportunities to move teams, specialise and develop your analysis, client relationship and investing skills.

YOUR SALARY AND BENEFITS

We want our graduates to choose Baillie Gifford because they are intrigued by our approach to investment and attracted to the culture we work hard to create here. The decision for you should come down to where you believe you will be a better fit. We offer an excellent starting salary that is competitive to other investment management firms. Our comprehensive benefits package includes an annual bonus, generous pension, life assurance, discounted private healthcare, 25 days holiday and bank holidays as standard. We believe that Edinburgh offers a unique social, cultural and historical place to live and work. It gives our staff an excellent quality of life, our clients a fascinating and exciting city to visit and our business a real point of difference. Theres also a very active social scene at Baillie Gifford, with regular opportunities to mix with colleagues both in and outside your department.

MORITZ SITTE TAKING THE LONG VIEW

Ive been with Baillie Gifford for one year and will shortly move to a new desk. I have learned a lot this year and Im working directly on real analysis. For instance, today I was looking at a distressed international bank in Europe and trying to understand if it would be a good investment for the future. After my first year, I feel a lot more comfortable talking to my colleagues, especially senior ones. When I first joined there was a bit of hesitation, but that has pretty much vanished. There are small teams of five or six people and you learn very quickly. You can approach the other team members any time you want. They always have an open ear for you and theyre ready to help. Its very collegiate. If youre new to Baillie Gifford, you should be willing to learn. Nobody here has all the answers, so if you come ready to find out more and get better at what you do you will be fine. I think the rotation at Baillie Gifford is a big part of what sets apart the graduate programme here. Youre working on different desks, dealing with different countries and regions and types of company, so you learn a great deal. You also have the option for a real long-term career. Many of our partners started as graduates so theres proof of that long-term approach. We dont open a new division and two years later decide its not working and let everyone go we work on a longer timeframe.

THE BAILLIE GIFFORD RECRUITMENT PROCESS

Joining the Investment Management graduate programme involves a three stage process: Initial application Visit our website at www.bailliegifford.com to apply online. Select the careers page and then the graduate page. This will take you to a short online application form you can complete before attaching your CV and a cover letter. We will review your application to find out more about you and assess whether you have the skills, attitude and curiosity to make a good investment management graduate. CV based interview If you are successful in the first phase, we will invite you to our offices in Edinburgh for a first interview with one of our senior investors and a member of the HR team. They will look at your CV with you and discuss the academic and professional choices you have made so far. They will also discuss your interests and ask for your thoughts on topical issues. Second stage interviewing and informal discussion The final stage is more in depth. You may have further meetings with senior investors, but you will also have the opportunity to meet many different members of the teams you might join, from experienced analysts to graduates who were in your position the previous year. At each stage, we will try to give you a clear idea of what it is like to work here. Throughout the process, its essential that you let your personality, insight and enthusiasm shine through. We can train you on many of the specifics of investment management, but you must bring the raw materials intellectual acuity and a willingness to learn.

FAQs
Where are your offices? All of our investment teams are based in our office in Edinburgh. Graduates on the Investment Management programme may be expected to travel and the travel will depend on the team they are working in. Who do I contact if I have a special requirement and need help applying for the scheme? We're an equal opportunities employer and want to do everything we can to make our application process as accessible as possible. So we're happy to provide support just phone us on 0131 275 2000. Do you expect your employees to relocate? Successful candidates will be willing to either relocate or commute to Edinburgh if they accept a place on one of our graduate programmes. Do I need to have graduated within the last three years? There is no time limit for how long ago you were awarded a degree. We actively welcome applications from individuals who have gained post-graduate work experience. How will my progress be monitored during the training programme? At the end of each rotation, you will be assessed by the relevant department and given feedback on your time there. You will also have regular formal and informal reviews with your line manager to assess your progress. This is a two-way process where feedback will be exchanged and development needs agreed. What is the career progression/ what role might I expect to move to after my training? There is no limit to your career progression once you are appointed and Baillie Gifford fully supports internal moves to help you develop your career. You could be appointed into a number of roles within the firm; however, we will take into account where your key skills and experience lie when deciding on an appropriate role. Does it matter if I dont have a maths/ economics related degree? We welcome applications from students with degrees in any subject for the Investment Management programme. Well provide you with training in the technical skills you need for this role. Is there a closing date for applications? The closing date for the Investment Management programme is 30 November 2011. How long before I hear back about my application? You will receive an automated response when you submit your application to confirm that we have received it. We aim to get back to you by the middle of December to advise how we will progress your application, however, depending on the number of applications, this timescale may be extended. Where will interviews take place? At our offices in Edinburgh. What is the start date? September 2012.

Cert no. TT-COC-2251

BE CURIOUS ABOUT THE WORLD

WE WANT TO FIND OUT MORE ABOUT YOU, SO WHY DONT YOU FIND OUT MORE ABOUT US?
If you have been intrigued by what youve read about Baillie Gifford, wed like you to take action. You can start by going to bailliegifford.com/graduates and applying for the Investment Management graduate programme. If you are successful in moving to the next stage, we want you to show us why your curiosity, drive and ability to explain complex ideas make you the perfect candidate.

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