(Alliance News) - Standard Life Aberdeen PLC completed its corporate rebranding on Monday, adopting the new name Abrdn PLC.
The Edinburgh-based investment and asset management firm first announced the new name, which is pronounced "Aberdeen", back in April. It said the Abrdn brand will be rolled out across its client and customer businesses in the coming months.
"The new brand symbolises the transition underway 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," Abrdn said.
The transition includes a new "client-led growth strategy" to simplify the company's structure and focus on three main areas for growth: investments, adviser and personal.
In February, the firm agreed to sell the 'Standard Life' brand to Phoenix Group Holdings PLC and buy the Wrap SIPP and Wrap Onshore Bond businesses from Phoenix.
"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," Chief Executive Stephen Bird said.
"Acting with courage and conviction, being optimistic about the future and building powerful partnerships are all important attributes of the brand we are creating," Bird added.
Shares in Abrdn were trading up 1.4% at 275.16 pence each in London on Monday morning. The FTSE 100 stock adopted the new ticker ABDN.
By Scarlett Butler; scarlettbutler@alliancenews.com
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Abrdn (ABDN)