Keeping the Enlightenment Alive:
Baillie Gifford and Panmure House
Baillie Gifford, the independent investment management firm based in Edinburgh, in early 2025 demonstrated once again its commitment to the values of the Scottish Enlightenment by pledging £1.25 million to support thought leadership and innovation at Panmure House, the historic home of Adam Smith and Heriot-Watt University’s centre for economic and social debate and research.
Baillie Gifford
“Panmure House stands as a beacon of independent thinking,” a spokesperson for Baillie Gifford told us. “We are proud to support Heriot-Watt’s vision to keep that light burning brightly, inspiring new generations of researchers, policymakers, and leaders to engage thoughtfully with the big questions of our time.”
Professor Adam Dixon, the Adam Smith Chair for Sustainable Capitalism at Panmure House, had this to say about the purpose of Panmure House and the impact of Baillie Gifford’s renewed programme of support:
“Our mission is to provide world-influencing social and economic debate and research that will help promote a world in which businesses and governments serve the long-term common good; where policies and public discourse are inclusive, well-reasoned, and founded on research.
“We are grateful to Baillie Gifford for this gift, which will help revitalise the Scottish Enlightenment for the 21st century and foster rigorous debate and research that address the critical economic and societal issues of our time. With this generous support, we will expand our initiatives and continue to champion the values that Adam Smith embodied."
“We are grateful to Baillie Gifford for this gift, which will help revitalise the Scottish Enlightenment for the 21st century.”
Professor Adam Dixon
Impact Leadership on Sustainability in Further Education: The Heriot-Watt Experience with Andrea Nolan (Edinburgh Napier University), Richard A. Williams, and Mercedes Maroto-Valer.
Who was Adam Smith?
Adam Smith was born in 1723 in Kirkcaldy, Scotland, and is best known today as the father of capitalism. His 1776 magnum opus, The Wealth of Nations, introduced economic concepts that have since become foundational, including productivity, the division of labour, and free markets.
His Edinburgh home, Panmure House, had fallen into disuse and neglect until it was purchased by Heriot-Watt’s Edinburgh Business School in 2008. Now, its historic—and contemporary—importance are once again front and centre, and (in part thanks to Baillie Gifford) its future is looking bright.
A public talk takes place in Panmure House.
Supporting Panmure House in 2025
Baillie Gifford’s pledged donations will enhance the Adam Smith Lecture Series and fund the Panmure House Prize, a £75,000 annual award for research on long-term thinking and innovation. Additionally, a new public debates series will explore key global issues from corporate responsibility and the role of finance in sustainable change to the role of artificial intelligence (AI) in contemporary economic and social change. A new scholars-in-residence programme will also be introduced, bringing distinguished researchers to Panmure House for collaboration and public engagement.
“Panmure House is a place of thought leadership. It is a centre of excellence for the study of contemporary economics, a place to reflect on the legacy of Adam Smith and a venue for social and economic debate,” explains Ruth O’Hanlon, Director of Heriot-Watt’s Shaping Futures fundraising campaign.
“Supporting Panmure House is a key goal of the Innovate with Business and Industry theme of Shaping Futures, which is all about finding ways to strengthen our relationships with local businesses and global industry partners to ensure we remain on the frontline of innovation.”
If you haven’t visited Panmure House yet, do check the House’s events calendar – there are more and more ways to see what makes it so special.
“We are proud to support Heriot-Watt's vision to keep that light burning brightly.”
Baillie Gifford spokesperson
Annual award for research on long-term thinking and innovation
To learn more about how your trust, foundation, company, or corporation can support Panmure House and/or Heriot-Watt University, please contact Development Executive Laura Tulloch at l.tulloch@hw.ac.uk.
