Abrdn Reverses Course: The Surprising Decision to Reintroduce Vowels to Its Name After Disastrous Rebrand

Image credits: Aberdeen's management team, frequently questioned about their rebrand decision, is now shifting course - John Keeble/Getty Images Europe

The decision by Abrdn to reintroduce vowels to its name is a significant reversal of its 2021 rebrand, which was widely ridiculed and criticized. The company's chief executive, Jason Windsor, admitted that the rebrand had become a distraction, and that the company's name should enhance its reputation and make it easier for employees to be proud of what they do. The rebrand, which was intended to reflect the company's increasing tech focus, was made by former chief executive Stephen Bird. However, the move ultimately backfired, with many accusing the company of poor judgment. The company's management team had been frequently quizzed about the rebrand decision, with some accusing critics of unfairly attacking the company's name. Peter Branner, the company's chief investment officer, had previously accused the media of being "childish" for ridiculing the name, and claimed that the backlash had amounted to "corporate bullying." However, the company's senior management has now shifted its tone, with Windsor downplaying the significance of the multiple brand names and emphasizing that the name had remained the same when spoken. The decision to reintroduce vowels is seen as a strategic move to regain public trust and confidence. The company's adjusted profits grew for the first time in three years, rising 2% to £255m, despite a 6% fall in revenue. The profits were boosted mainly by a reduction in costs, with Aberdeen slashing £100m last year. The company also plans to use £35m from its defined benefit pension to fund its defined contribution scheme, delivering a £35m boost to Aberdeen's capital. The rebrand is not the only significant change that the company has undergone in recent years. In 2021, the company was rebranded from Standard Life Aberdeen, which was created out of a 2017 mega merger between Aberdeen Asset Management and insurer Standard Life. The change to Aberdeen Group will be the third renaming in five years. However, Windsor emphasized that the name had remained the same when spoken, and that the company was simply trying to change the way it spelled out its name to avoid distractions. The implications of the rebrand are significant, and will likely be closely watched by the financial industry. The decision to reintroduce vowels may be seen as a sign of the company's commitment to regaining public trust and confidence. However, it also raises questions about the company's brand identity and its ability to adapt to changing market conditions. As the company moves forward, it will be important to monitor its progress and see how the rebrand affects its reputation and bottom line.rebrand abrdn company vowel reintroduce name management distraction aberdeen its