INVESTMENT giant Abrdn has had a vowel movement and changed its name to “aberdeen group” — after relentless mocking.
Boss Jason Windsor today called the move a “pragmatic decision” to “remove distractions”.
The firm was ridiculed in 2021 when its dropped most of the vowels from its name[/caption]
But it comes two months after the chief exec said: “The name is the name and we will be continuing with it.”
The Edinburgh-based fund management firm was ridiculed in 2021 when it underwent a woke rebrand and dropped most of the vowels from its name.
It was a marketing agency’s idea following Aberdeen Asset Management’s merger with Standard Life.
Stephen Bird, then-chief executive of Abrdn, tried to say it showed “clarity of focus”.
But it was branded the worst name change in history and led to people sending the firm messages with no vowels.
Even Aberdeen dance icons The Shamen, best known for 1992 No1 Ebeneezer Goode, got involved.
They cheekily said “dropping three Es” was a commendable notion.
Last year chief investment officer Peter Branner compared the teasing to “corporate bullying” and accused the media of being “childish”.
But business newspaper City AM hit back with a cheeky front page that said: “Abrdn: an aplgy — sry we kp tkng th pss ot of yr mssng vwls.”
We told previously how the firm was set to axe 500 staff in a brutal wave of job cuts.
A cost-cutting programme was announced last January, which aimed to save £150million this year.
