“We have six brand names and six websites. So we’re going to fix that,” he said. Since then the six have been slashed to five, after it sold off one of the brands.
After revealing that all remaining brands will be re-named to Abrdn, Mr Bird said: “It is a highly-differentiated brand that will create unity across the business, replacing five different brand names that have each been operating independently.
“Our new name reflects the clarity of focus that the leadership team are bringing to the business as we seek to deliver sustainable growth.”
The rebranding will start to roll out over the summer and progress through 2021, the company said.
The business was formed in 2017 when Standard Life merged with Aberdeen Asset Management.
But profit has fallen and Mr Bird has said that the business has not proven to be greater than the sum of its parts.
“Standard Life Aberdeen needed to sort out its branding, but the new Abrdn name will likely leave investors feeling dazed and confused,” said AJ Bell financial analyst Laith Khalaf.
“Investors need simple fund names that are recognisable amongst the thousands of investments out there, and having a brand name you can actually say, even if it’s only in your head, is a big help.
He added: “While the Abrdn brand might be specifically designed for the digital world, it looks far from ideal for the real one.
“A full stakeholder engagement plan is promised and don’t be surprised if stakeholders ask for some vowels please, Carol.”
