 Gilchrist succeeded him but held the post only a few months.Later the same year, Gilchrist moved to Edinburgh where, in partnership with James Inglis, he founded a banking firm, Inglis, Borthwick Gilchrist & Co, which operated from a flat in Hunter Square.He also became in 1807 a fellow of the Royal Society of Edinburgh (proposed by William Moodie, John Playfair and James Bonar), the Horticultural Society, the East India Club, and the Scottish Military and Naval Academy.