Scottish finance giant Standard Life Aberdeen officially reborn as Abrdn
Standard Life Aberdeen, one of Scotland’s most iconic financial firms, has now officially been renamed Abrdn plc – saying today “marks a key milestone”.
The company has confirmed the move – including its stock market ticker having now changed to ABDN from SLA – as it also unveiled a charity partnership.
The rebrand, created by London agency Wollf Olins, divided opinion when it was announced in April, with one analyst at the time saying it was likely to leave investors “feeling dazed and confused”.
The move marked the latest chapter in the history of the firm that was created through the merger of Standard Life and Aberdeen Asset Management in 2017, and can ultimately trace its roots back to 1825 when the Standard Life Assurance Company was created.
The organisation now known as Abrdn said: “The new brand symbolises the transition under way to bring a clarity of focus, renewed sense of purpose and drive for sustainable growth for shareholders, clients and colleagues. Simplifying the business, coming together under one single brand is a key enabler to drive future growth.
“In the coming months all of the company’s client and customer propositions will rebrand to the new name – Abrdn.”
Chief executive Stephen Bird said: “I’m very excited to have reached this milestone. Abrdn is so much more than a new name, it’s about our business coming together under a single global brand with a determined focus on enabling our clients and customers to be better investors”.
The Edinburgh-based group has also inked a major new charity partnership with Hello World, a digital education charity that offers a “practical, affordable and scalable solution to the global education deficit”.
It partners with communities to build Hello Hubs, solar powered and wi-fi enabled computer hubs fitted with eight screens loaded with premium educational content so that children can learn, access digital educational resources and improve their future by connecting globally.
Abrdn said its partnership with Hello World will fund communities to build 64 Hello Hubs over two years, providing “life-changing” opportunities and education to about 80,000 children and adults in disconnected communities.
Mr Bird said: “Personally, I’m passionate about education and digital skills – and for me this partnership is a perfect fit with what Abrdn stands for.”
Also commenting was Katrin McMillan, chief executive and founder of Hello World. "Our collaboration [with Abrdn] will have an enormous impact on the work we do and will immeasurably improve the lives of the communities we support,” she said.
“Even before Covid-19 hit, 258 million children were out of school, equivalent to one in five globally. This figure rose to 800 million children during the pandemic. We work with communities in Uganda and Nepal to enable them to build their own digital solar-powered hubs, loaded with education software and connected to the internet.
"Our Hello Hubs are a practical and affordable solution to the global education deficit and, with the support of Abrdn, we will now be able to expand our programme and work with many more communities.”