Boutique investment group Majedie Asset Management has hired a former Baillie Gifford fund manager to lead its global equity offering, 16 months after the previous heads of the initiative left.

Tom Record has been brought in to develop a global equity business that will launch later this year. The hire comes months after 2012 departures of Simon Todd and Michael Nickson - the team previously tasked with developing Majedie's global equity strategy - who moved to rival Marathon Asset Management.