Standard Life Aberdeen officially rebrands as abrdn

The abrdn logo for the 2021 Scottish Open. Picture by Mark Newcombe

Edinburgh-based investment giant Standard Life Aberdeen announced on Monday that it has been officially renamed abrdn plc.

The company’s stock market ticker was changed from SLA to ABDN with effect from 8am.

abrdn has offices in over 50 locations worldwide and employs around 6,000 people.

The investment giant manages and administers about £535 billion of assets worldwide.

The rebranding follows an announcement in February that closed life and pension fund consolidator Phoenix Group, owner of the “old” Edinburgh-based Standard Life Assurance, would take ownership of the Standard Life brand.

abrdn sold Standard Life Assurance Limited to Phoenix Group Holdings for £3.28 billion in August 2018.

abrdn retains a 15.35% stake in Phoenix Group.

Today marks a key milestone as the company delivers on its strateg,” said abrdn.

“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 plc also announced a new charity partnership with Hello World, a digital education charity that “offers a practical, affordable and scalable solution to the global education deficit.”

The new charity partnership with Hello World includes a £1 million donation to support access to education for 80,000 children and adults in “disconnected communities.”

abrdn plc CEO Stephen Bird said: “I came into a merging company. It had been taking too long to merge and too long to prove the benefits of the original concept.”

Bird added: “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.

Acting with courage and conviction, being optimistic about the future and building powerful partnerships are all important attributes of the brand we are creating.

“That’s why I’m delighted that today we can also announce our partnership with Hello World — a charity that, like us, is solving the problems of today and tomorrow with innovative thinking, sustainable values and a futurist approach.

“Personally, I’m passionate about education and digital skills — and for me this partnership is a perfect fit with what abrdn stands for.”

abrdn said education is currently inaccessible to over 258 million children and 40% of the global population has no access to the internet.

“Hello World partners with communities to build Hello Hubs, solar powered and wi-fi enabled computer hubs, fitted with eight screens loaded with world-class educational content so that children can learn, access digital educational resources and improve their future by connecting globally,” said the Edinburgh company.

abrdn’s partnership with Hello World will fund communities to build 64 new Hello Hubs over two years, providing life-changing opportunities and education to approximately 80,000 children and adults in disconnected communities.”

Hello World CEO Katrin McMillan said: “We are delighted to be working with abrdn.

“Our collaboration will have an enormous impact on the work we do and will immeasurably improve the lives of the communities we support. 

“To partner with a business and a team so closely aligned with our approach and values is an especial bonus.

“Even before Covid-19 hit, 258 million children were out of school, equivalent to 1-in-5 globally.

“This figure rose to 800 million children during the pandemic.

“We work with communities in Uganda and Nepal to enable them to build their own digital solar-powered hubs, loaded with education software and connected to the internet.

“Our Hello Hubs are a practical and affordable solution to the global education deficit and, with the support of abrdn, we will now be able to expand our programme and work with many more communities.”