Standard Life no more as company becomes Abrdn
The company is using the new logo at the Scottish Open
Standard Life Aberdeen officially changes its name to the controversial “Abrdn” from today, bringing an end to it association with its historic brand.
The company will mount a publicity campaign to win over sceptics who ridiculed the new name when it was announced in April. Its stock market ticker changes from SLA to ABDN.
The company has brought forward the re-brand which was initially planned for later in the summer.
Standard Life Aberdeen was forced to seek a name change after selling the 196-year-old Standard Life brand to the insurance group Phoenix earlier this year.
Stephen Bird: ‘determined focus’
New CEO Stephen Bird insisted on the change after the loss of its crown as the UK’s largest listed investment house, and a lack of “clarity of focus”.
Its new name will be pronounced “Aberdeen”, but critics have said that if the pronunciation has to be explained it doesn’t work.
Questions have also been raised over the logic of naming an Edinburgh company after another city which may add to the confusion that the rebrand is supposed to clear up.
It was designed by London agency Wolff Olins which has a mixed record. While its rebranding of Norwich Union as Aviva was a success it has also been behind botched efforts such as PwC Consulting, which had its name changed to Monday for just a month before it was ditched.
Mr 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.