Abrdn: Scottish funds giant unveils name rebrand, as new boss seeks to remove ‘distractions’

Scottish funds giant Abrdn said it was ditching its derided brand name to become Aberdeen as it posted the first increase in annual profit for three years.

Former chief executive Stephen Bird, who stepped down in May 2024, led the change from Standard Life Aberdeen to Abrdn in 2021. However, announcing its 2024 full-year results, the Edinburgh-headquartered group said it would be changing its name to Aberdeen group plc, albeit with a lower case “a” at the start - a style that few publications are likely to adopt.

New chief executive Jason Windsor told investors: “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. This is a pragmatic decision marking a new phase for the organisation, as we focus on delivering for our customers, people and shareholders.”

The Scottish investment heavyweight controversially rebranded to Abrdn in 2021. Picture: Scott Reid

In 2021, the group said it planned to create new branding after the funds firm sealed a deal to sell the 196-year-old Standard Life brand to Phoenix Group. Insurer Phoenix Group had acquired Standard Life Assurance in 2018.

At the time, former boss Bird said: “Our new brand Abrdn builds on our heritage and is modern, dynamic and, most importantly, engaging for all of our client and customer channels. It is a highly-differentiated brand that will create unity across the business, replacing five different brand names that have each been operating independently.

“Our new name reflects the clarity of focus that the leadership team are bringing to the business as we seek to deliver sustainable growth.”

The latest results for 2024 revealed a full-year profit before tax of £251 million, compared with a loss of £6m in 2023. Adjusted operating profit came in at £255m, up 2 per cent on the year before. At its investment arm, total assets under management and administration rose by 3 per cent to £511.4 billion.

Jason Windsor is the Edinburgh-headquartered fund group's chief executive.

Windsor added: “The group grew profit in 2024 for the first time in three years, with each business increasing its contribution. As our momentum shifts to growth, we have a clear focus on improving client experience and shareholder returns.

“We have strengthened and streamlined our senior leadership team and, with our sharper focus, we are committing to better results again in 2025 and 2026. Alongside our results, we are setting out our strategy to become a leading wealth and investments group, with new 2026 targets that underline the potential for the profitable growth we see in all of our businesses.”

Jamie Elvin, director at Strive Mortgages, said: “Abrdn’s rebrand back to Aberdeen is a clear admission that the previous name change was a misstep. The decision reflects the importance of brand clarity in financial services, where trust and recognition are paramount. While the move may restore some investor confidence, it also highlights the costly risks of unnecessary corporate rebrands.”

Riz Malik, IFA at R3 Wealth, added: “Their investors are clearly more concerned about the returns they make than whether they use vwls in their company name.”

Drop the 'e': Standard Life Aberdeen ditches name for 'agile, digitally-enabled' Abrdn brand