Standard Life Aberdeen has announced that it will change its name to ‘Abrdn’ as part of a corporate name change at the £ 500 billion fund manager.
The company, which manages pensions and investments, said it aims to create a “modern, agile, digital” and “highly differentiated” brand.
His decision to ditch the vowels in his name has been ridiculed, with several commentators drawing comparisons to unsuccessful attempts at rebranding, such as the relaunch of Royal Mail as Consignia in 2002.
Others have wondered how to pronounce the collection of consonants. A number of Twitter users have pointed out that the new name is uncomfortably close to a “burden.”
The company issued a press release stating that the correct pronunciation was “Aberdeen”.
“While the Abrdn brand may be specifically designed for the digital world, it seems far from ideal in the real world,” said Laith Khalaf, financial analyst at investment firm AJ Bell.
“Investors need simple fund names that are recognizable among the thousands of investments available.
“The fact that Standard Life Aberdeen actually had to explain how to pronounce the new name will not be lost on financial advisers across the country, whose clients may well believe they typed a typo in a report they wrote at haste.
Managing Director Stephen Bird said the Abrdn brand will build on the group’s heritage, which dates back to 1825, and is “modern, dynamic and, most importantly, engaging to all of our customers and customer channels.”
He added, “This is a highly differentiated brand that will create unity across the company, replacing five different brand names that have each operated independently.
“Our new name reflects the clarity of the priorities that the leadership team brings to the business as we seek to generate sustainable growth.”
The name change, developed by the Wolff Olins agency, will take place in the coming months “alongside the implementation of a comprehensive stakeholder engagement plan to manage the transition”.
The company will switch to a new stock ticker by August.
Standard Life Aberdeen has been looking for a new name since February, when it sold the rights to the Standard Life brand to the Phoenix Group.
The group was formed by a £ 11 billion merger between Standard Life and Aberdeen Asset Management in 2017.
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Source: www.independent.co.uk
This notice was published: 2021-04-26 16:09:44
