Edinburgh-based investment giant Baillie Gifford has introduced a new parental leave policy which offers up to 52 weeks leave to any employee becoming a parent, irrespective of gender and length of service. 

The first 26 weeks of leave will be at full pay and the following 13 weeks at half-pay, a significant improvement to the firm’s current policy which was already well ahead of statutory requirements.

Parents will also continue to receive holidays and benefits.  

Lynn Dewar, a partner at Baillie Gifford, who chairs the firm’s diversity and inclusion group, said: “The new policy offers equal rights to all working parents after a child’s birth or adoption. 

“As a fair and progressive employer, this is part of our commitment to supporting gender equality and improving diversity across the firm.”

Tim Alcorn, head of investment risk at Baillie Gifford, is planning to take over three months of parental leave when his second child is born later this month.

Alcorn said: “This is a fantastic opportunity for us to spend this precious time together.

“I can support my wife, Souzan, and help take care of our new baby as well as our son Alexander, aged 4.

“With this generous policy, Baillie Gifford has set out a clear industry-leading position which embodies the culture of the firm.” 

Baillie Gifford employs 1,128 people and has assets under management and advice of £173.3 billion.

An asset management firm founded in 1908, it is headquartered in Edinburgh with offices in New York, Hong Kong, Dublin and London.