When the UK fund manager Aberdeen removed the vowels from its name four years ago, it prompted a wave of whimsical mickey-taking and caused its boss to accuse those mocking Abrdn of “corporate bullying”. Now, its new boss has performed a U-turn and returned to the company’s original name – but without capital letters.
Alongside the Edinburgh-based company’s annual results, the chief executive, Jason Windsor, the former finance chief who was promoted to the top job in September, announced the “pragmatic decision” to bring back its vowels – and remove any “distractions”.
He 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 comes only weeks after Windsor said: “The name is the name, we’re continuing with it.”
Standard Life Aberdeen adopted the Abrdn name in 2021, after the sale of the Standard life brand. At the time, the FTSE 250 fund manager, which dates back to 1825, said the vowel-banishing change reflected a “modern, agile, digitally enabled brand”.
The branding decision drew immediate derision. One brand expert called it “ill thought-out” and said it could be pronounced “a burden”. Critics said the dropping of vowels – a strategy employed by TikTok stars and YouTubers such as the Strictly Come Dancing star Hrvy – made for spelling and pronunciation problems.
Last year the company hit out at what it called “corporate bullying” that would not be acceptable if the business was a person. The chief investment officer, Peter Branner, pointed a finger at the media, which he said continued to make “childish jokes” about the name change.
The fund manager will start to use “aberdeen” as the main brand name for its investments and adviser businesses, but its London Stock Exchange ticker will remain ABDN.
The firm, which owns the Interactive Investor site, has begun to look for a successor to its chair, Sir Douglas Flint, who is stepping down. Last April he insisted the group was “proud” of its name.
David Hearne, an independent financial adviser, said on X on Tuesday: “abrdn becomes aberdeen. The world is healing.”
The news came as Windsor set out a strategy to turn the firm into a leading wealth and investments group, with new 2026 targets. Adjusted revenues fell by 6% to £1.3bn last year, while operating profit rose by 2% to £255m. It swung to an annual profit before tax of £251m from a loss of £6m in 2023.
Assets under management climbed by 3% to £511.4bn thanks to inflows and positive market moves, while customers pulled £1.1bn from its funds, down from £17.6bn in 2023. At its investment arm, inflows almost doubled to £5.7bn.
Its adviser arm, the second biggest in the UK that serves more than half of the country’s independent financial advisers, posted a 7% rise in operating profit to £126m. It called outflows of £3.9bn versus £2.1bn in 2023 “disappointing” and said returning to growth was a priority.
Shares in the group rose nearly 10% on Tuesday.
