Abrdn changes name back to Aberdeen after rebrand | European Markets

Aberdeen Group, previously often known as Customary Life Aberdeen, rebranded to Abrdn, in 2021. The identify was created by the company Wolff Olins, which it mentioned “symbolised the free-flowing movement of money”.

However the rebrand was mocked by each traders and financial advisers with chief govt Stephen Chicken, accusing the media of “corporate bullying” in 2024. He was quoted as telling Monetary Information: “I understand that corporate bullying to some extent is part of the game with the press, even though it’s a little childish to keep hammering the missing vowels in our name.
“Would you try this with an particular person? How would you have a look at a one that makes enjoyable of your identify day in, time out? It is in all probability not moral to do it. However apparently with firms it’s totally different.”

Jason Windsor, who took over as CEO from Mr Bird in October 2023, revealed the company was renaming itself Aberdeen Group when unveiling the company’s latest set of full year results.

The name change is the company’s fourth in eight years, it had been Aberdeen Asset Management but changed to Standard Life Aberdeen when it merged with its Scottish rival in 2017.

Mr Windsor said the decision was a pragmatic one and it was time for the company to look forward and be proud.

During 2024 Aberdeen Group’s profit grew 2% to £255 million and it attracted 35,000 new customers to its Interactive Investor business.

Customer numbers at the online investment platform surged 8% to 439,000, boosting its assets under management by more than a sixth to £77.5 billion.

Windsor said: “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 decision was welcomed by advisers and industry experts.

Tony Redondo, founder at Cosmos Currency Exchange said: “The 2021 shift to Abrdn, ditching vowels in a quirky nod to modernity, drew mockery for being unreadable and pretentious, alienating purchasers and traders alike. Right this moment’s announcement is a pragmatic retreat from a branding experiment gone awry. With £508bn of consumer funds beneath management, readability trumped quirkiness. Aberdeen has been by way of a tough patch with its share price down 30% in 5 years and £1.7 bn in 2024 of outflows, so the return to its Scottish roots might regular its image and trust. Markets would possibly shrug, nevertheless it may curb consumer loss. For the company and its shareholders’ sake, let’s hope it is good injury control and never too late.”

Jamie Elvin, director at Strive Mortgages said: “Abrdn’s rebrand back to Aberdeen is a clear admission that the earlier identify change was a misstep. The choice displays the significance of model readability in financial providers, the place trust and recognition are paramount. Whereas the transfer might restore some investor confidence, it additionally highlights the expensive dangers of pointless company rebrands.”

Riz Malik, independent financial adviser at R3 Wealth said: “Their traders are clearly more involved in regards to the returns they make than whether or not they use vwls of their company identify.”