LONDON – British funding supervisor abrdn, previously Normal Life Aberdeen, is dropping the capital letter from its identify, it mentioned on Monday because it rolled out a branding revamp.
Abrdn obtained a considerable amount of publicity, a lot of it unfavourable, when it introduced identify change plans in April.
Stephen Fowl, CEO of abrdn, mentioned the asset supervisor had as well as determined to drop the capital “A” following optimistic suggestions on a lower-case identify from purchasers and workers.
All of the adjustments take impact from Monday.
“Branding needed to be easy, clear and distinctive,” Fowl informed Reuters.
The asset supervisor, a sponsor of the Scottish Open golf event and Edinburgh Worldwide Competition, mentioned the identify could be pronounced Aberdeen.
It is usually simplifying its construction to give attention to three areas: investments, adviser and private.
“I got here right into a merging firm. It had been taking too lengthy to merge and too lengthy to show the advantages of the unique idea,” Fowl mentioned.
Abrdn’s share value edged 0.36% greater in mid-session buying and selling, broadly in step with the broader market.
Fowl, a former Citi govt, joined abrdn in Sept 2020.
Normal Life merged with Aberdeen-based Aberdeen Asset Administration to type Normal Life Aberdeen in 2017 and life insurer Phoenix purchased the corporate’s European and UK insurance coverage companies the next yr.
Phoenix took on the Normal Life model from the asset supervisor in Feb 2021 and offered again among the companies it purchased in 2018, because the pair simplified the partnership.
Fowl declined to element the price of the branding change, which was undertaken by Wolff Olins, however mentioned it had been coated by the sale of the Normal Life model.
Abrdn additionally mentioned on Monday it was partnering with charity Whats up World to fund laptop hubs in “disconnected communities”.
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