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UK-listed asset management firm Abrdn has announced a major rebranding, changing its name to Aberdeen Group. The decision comes as the company moves into a new phase under the leadership of CEO Jason Windsor. The shift marks the end of the much-criticized Abrdn brand introduced by former CEO Stephen Bird in 2021.
Why Abrdn is Changing Its Name
Abrdn was created as a rebrand of Standard Life Aberdeen in 2021. The name was widely criticized for removing vowels from "Aberdeen," making it difficult to read and pronounce. Critics, including media and financial analysts, often mocked the change. The new CEO, Jason Windsor, has now decided to restore a more traditional name to bring clarity and credibility back to the brand.
"This is a group to be proud of, with a promising future. We will deliver by looking forward with confidence and removing distractions. To that end, we are changing our name to Aberdeen Group plc," Windsor said.
A Cost-Effective Rebrand
One notable aspect of the name change is that it was done internally without hiring external consultants. Windsor emphasized that the company did not spend any money on the rebrand. "We've not spent any money at all on it. We've done it all internally," he stated.
Financial Performance and Growth
The name change comes at a time when Aberdeen Group is showing signs of financial improvement. In its latest annual report, the company reported:
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Net outflows slowed to £1.1bn in 2024, a significant improvement from £17.6bn in 2023.
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Assets under management grew 3% to £511.4bn.
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Profit increased 2% year-on-year to £255m.
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Institutional and wealth clients invested £300m of new money.
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The Interactive Investor platform posted net inflows of £5.7bn, helping boost assets by 17% to £77.5bn.
Windsor attributed the growth to cost discipline, better market conditions, and a strong performance by the Interactive Investor platform.
Challenges in the Asset Management Industry
Mid-sized asset management firms, including Aberdeen Group, are facing challenges as investors shift away from actively managed funds. Increased business costs and investor preferences for passive funds have created headwinds for the industry.
For example, another UK-listed asset manager, Jupiter, recorded net outflows exceeding £10bn in 2024. Despite these challenges, Aberdeen Group has shown resilience and improvement under its new leadership.
Leadership Changes Under Jason Windsor
Since taking over as CEO in September 2023, Windsor has made several changes to improve the company’s performance, including:
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Establishing a new operating committee with seven members to enhance decision-making speed.
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Restructuring the executive leadership team to focus on strategy, culture, risk, and control.
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Promoting Xavier Meyer as CEO of the investments division.
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Hiring Siobhan Boylan as Chief Financial Officer (CFO). Boylan, currently CFO at Coutts, will replace interim CFO Ian Jenkins in the summer.
The Legacy of Former CEO Stephen Bird
Stephen Bird, who led the company from 2020 to 2023, had ambitious plans to transform the business. Under his leadership, Abrdn acquired Interactive Investor for £1.5bn in 2022, making it one of the UK’s largest retail investment platforms. Other acquisitions included investing tips website Finimize and a 60% stake in Tritax, a specialist logistics real estate fund manager.
However, Bird’s tenure was also marked by major asset outflows and criticism over the rebrand. It was later revealed that he had considered selling the investment management business, but the board rejected the idea.
What’s Next for Aberdeen Group?
With the return to a more recognizable name, Aberdeen Group is focusing on improving customer experience and increasing shareholder value. Windsor has outlined plans to:
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Strengthen and streamline leadership.
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Improve investment performance.
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Continue growing its Interactive Investor platform.
The company’s share price has risen 13% since January, reflecting investor confidence in the new strategy. Windsor has promised better results in 2025 and 2026, signaling a fresh start for the asset manager.
Conclusion
The decision to rebrand from Abrdn to Aberdeen Group is a strategic move aimed at restoring the firm’s reputation and simplifying its identity. Under Jason Windsor’s leadership, the company is seeing positive financial growth and structural improvements. With its new focus, Aberdeen Group is positioning itself for a stronger future in the competitive asset management industry.
