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UK asset manager Abrdn has rebranded itself as Aberdeen after it was widely ridiculed for removing most of the vowels in its name under previous chief executive Stephen Bird.
Jason Windsor, who became chief executive of Abrdn last year, said on Tuesday that the FTSE 250 company would switch its name, which he described as “a pragmatic decision marking a new phase for the organisation, as we focus on delivering for our customers, people and shareholders”.
Bird, who stepped down from his role last May, opted to rename the company as Abrdn in 2021. The group had previously been called Standard Life Aberdeen following the merger of two asset managers in 2017.
The rebrand by Bird was widely mocked and Tuesday’s decision comes just weeks after Windsor said that the group would continue with the name, despite much ridicule.
The company said Tuesday’s move would end “distractions”. Under the change, the company spells its new name with a lower-case “a”.
The announcement came as the group swung back to profit last year, reporting a pre-tax profit of £251mn for 2024, compared with a loss of £6mn for the previous year, as customers pulled less money from its funds and investment returns improved.
https://www.ft.com/content/06b01a4d-ffc2-4f08-bc43-eeffd94e4d18
