- A 200 -year -old asset manager added the back of his name after being widely mocked.
- Abrdn is now Aberdeen after the company’s brand change in 2021.
- The CEO of the company said that this decision would help “delete distractions” and mark a new chapter.
From Flickr to Grindr and Tumblr at the weekend, the removal of an “E” has long been a way to report youth and energy. But an investment company aged 200 who jumped The trend recovered its vowels after having faced a general mockery for joining the E-Free club.
Standard life Aberdeen rebuilt Abrdn in 2021 under the previous CEO Stephen Bird, proclaiming that it was an integral part of being an “modern, agile and digital compatible brand”. The decision triggered wrinkles in a financial group with direct laces, trying to be cool and connected.
Almost four years after this decision, he was renamed Aberdeen again, restoring his three “e” but not stopping to kiss a capital letter.
CEO Jason Windsor wrote in the company’s annual report on Tuesday that this decision was aimed at “withdrawing distractions” and that it was a “pragmatic decision marking a new phase for the organization”.
The group’s investment director Peter Branner deplored criticism of his shortened name as “corporate intimidation” in an interview with Financial News last year. He ridiculed the “childish jokes” and wondered if these shock absorbers who would be done the same for a person.
The asset manager declared a 6% drop in net operating income adjusted to the Sterling equivalent of $ 1.68 billion last year. The adjusted operating profit increased by 2%, while Berdeen reduced its adjusted operating costs by 7%.
The company’s share price jumped 9% in London to the news, bringing its gain for the start of the year to around 26%. He is still negotiating about a third lower than when he changed his name the last time.
Many companies have changed their names over the years, often to announce a new strategic orientation. For example, Weight Watchers renamed in 2019 as WW after more than 50 years of activity, and Dunkin ‘Donuts has simply become Dunkin’ the same year.
Back in 2002 PricewaterhouseCoopers Consulting was renamed on Monday, but was acquired by IBM shortly after.
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