Sumary of Renamed fund manager Abrdn releasing first half-year results:
- The fund manager formerly known as Standard Life Aberdeen is releasing its first half-year results this week since losing most of the vowels in its name and becoming Abrdn.
- The firm, which was formed through a 2017 merger of Standard Life and Aberdeen Asset Management, has been trying to escape a poor run of performance which has dogged the firm since the deal.
- Under the leadership of Stephen Bird, who took over from Standard Life veteran Keith Skeoch as chief executive last September, Abrdn has mounted a turnaround.
- The fund manager is trying to cut costs, improve its investment performance and pull in more clients.
- ‘ The firm has already been shaking up the top team of its investment management business, as its long-standing chief investment officer Rod Paris prepares to retire at the end of the year.
- Rather than replacing him with one person, Abrdn has decided that the leaders of all its different arms – public markets, real assets, the solutions business which advises institutions and the central investments pillar, which has responsibility for governance, investment oversight and the investment platform – will all report directly to Bird.