Edinburgh investment group Baillie Gifford’s offer in July of “a voluntary exit programme to UK-based staff, giving them the option to leave on enhanced terms” has resulted in 160 staff leaving — almost 10% of its staff.

Baillie Gifford, which manages assets of £200 billion, has been operating with about 1,700 staff across the world.

“We’re pleased with the outcome and the level of interest was broadly in line with our planning assumptions,” a spokesperson for Baillie Gifford told a London trade publication.

“The programme has accelerated our move towards more efficient ways of working, while retaining capabilities we need for the future.”

The firm recently completed a long-awaited move of its Edinburgh global headquarters from Calton Hill to a new site at Haymarket.

Baillie Gifford added: “We’ve learned a lot about how we can work differently, making better use of technology and building a more efficient and scalable business …

“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.”