Aberdeen Group reborn as fund supervisor lastly ditches Abrdn rebrand

One of Britain’s biggest fund managers will be renamed Aberdeen Group after four years under the controversial ‘Abrdn’ brand. 

The investment company, which owns the Interactive Investor platform, was known as Standard Life Aberdeen until it adopted the Abrdn brand in 2021 following a recommendation by branding agency Wolff Olins.

Its chief executive, Stephen Bird, said the vowel-less moniker, pronounced Aberdeen, would ‘create unity across the business’ by replacing five different brand names used by the Edinburgh-based firm.

One analyst compared the rebranding’s hostile public reception to the short-lived European Super League football competition.

The controversy was unwelcome for the asset manager, which was struggling with large numbers of customers pulling money out of its funds.

New identity: Abrdn, whose rebranding four years ago was widely mocked, has decided to change its name to Aberdeen Group

Bird eventually left Abrdn in 2024 after four challenging years at the helm marked by stiff competition from rivals, with lower fees and investors pouring their money into less risky investments.

He was replaced by Jason Windsor, who used to be Abrdn’s chief financial officer.

Windsor told investors on Tuesday: ‘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. This is a pragmatic decision marking a new phase for the organisation, as we focus on delivering for our customers, people and shareholders.’

The announcement comes as the firm reported its adjusted operating profits grew by 2 per cent to £255million last year thanks to cost control and a strong performance by its Interactive Investor business.

Customer numbers at Interactive Investor increased by 8 per cent to 439,000, helping almost double the division’s net inflows to £5.7billion and boosting its assets under management and administration by 17 per cent to £77.5billion.

Meanwhile, Abrdn’s total profits soared by £236million to £248million after the firm made a £92million gain on selling its European-headquartered private equity business to Patria Investments.

Earnings were also uplifted by a £100million reduction in restructuring and corporate transaction costs.

Following the result, the company is now targeting at least £300milion in adjusted operating profits and around the same amount in net capital generation by 2026.

John Moore, senior investment manager at RBC Brewin Dolphin, said: ‘Interactive investor remains the jewel in the crown among Abrdn’s divisions, but there are tentative signs of a turnaround in other areas too, potentially providing a bit more balance and stability to the group.

‘The new targets indicate a level of confidence, and there is a growing sense of momentum behind Abrdn, which should bode well for the future.’

Abrdn shares climbed 12.4 per cent to 182p on Tuesday morning, making them the FTSE 250’s second-highest riser, although they have still fallen by about 30 per cent over the past five years.