Standard Life Aberdeen has announced plans to rebrand as Abrdn will begin in the summer and continue throughout 2021.

The firm said the new name, which is pronounced ‘Aberdeen’, would be part of a “modern, agile, digitally-enabled brand” that will also be used for all of its client-facing businesses around the world.

The rebrand will be accompanied by a full stakeholder engagement plan to manage the transition.

The company said it will make a further announcement when the name change becomes effective with a revised stock ticker, a change which is expected to take place before publication of the company’s half-year results in August.

It added that the change was the next stage in the reshaping of the business and future-focused growth strategy, with the company focused on global asset management (Investments), technology platforms for UK financial advisers and their customers (Adviser), and UK savings and wealth (Personal).

Abrdn chief executive, Stephen Bird, said: “Our new brand Abrdn builds on our heritage and is modern, dynamic and, most importantly, engaging for all of our client and customer channels. 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.”

Commenting on the rebrand, AJ Bell financial analyst, Laith Khalaf, said: “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.

“The fact Standard Life Aberdeen has actually had to explain how to pronounce the new name won’t be lost on financial advisers up and down the country.

“A full stakeholder engagement plan is promised and don’t be surprised if stakeholders ask for some vowels please, Carol.”

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