Asset manager Standard Life Aberdeen is planning to ditch its current name and instead will be known as Abrdn plc.
Abrdn, pronounced Aberdeen, will be “part of a modern, agile, digitally-enabled brand that will also be used for all the company’s client-facing businesses globally,” Standard Life Aberdeen said in a statement to the London Stock Exchange.
The asset manager announced in February that it had sold the Standard Life moniker to UK insurer Phoenix Group, which paved the way for a complete rebrand under new chief executive Stephen Bird.
“Our new brand Abrdn builds on our heritage and is modern, dynamic and, most importantly, engaging for all of our client and customer channels,” said Bird.
“Our new name reflects the clarity of focus that the leadership team are bringing to the business as we seek to deliver sustainable growth.” he added.
The statement said the company would update from its current stock ticker LON:SLA to a revised stock ticker in August.
It said its rebrand roll-out process would begin in the summer and progress throughout the year, alongside a “full stakeholder engagement plan”.
Standard Life Aberdeen was formed by a 2017 merger between Standard Life and Aberdeen Asset Management. The £535bn asset manager currently has a number of different brands, including Aberdeen Standard Investments and 1825 — its financial planning and advice business.
The company said its rebrand “marks the next stage in the reshaping of the business and future-focused growth strategy”.
The company said its strategy was focused on three main areas: global asset management, technology platforms for UK financial advisers and their customers, and UK savings and wealth.
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