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The £500 Billion Money Manager Battling an Identity Crisis

Abrdn is in the middle of an overhaul that some staffers at the UK fund company are struggling to get their heads around. 

Sitting in a bright yellow armchair and wearing a pink striped shirt, abrdn Plc Chief Executive Officer Stephen Bird answered a question emailed from one of his 5,000 staff. What was the plan for the next six months? It was, he said, to prove his new business model worked.

The trouble was that many of the recipients of the recorded video on Aug. 31 weren’t sure what the model actually was. What they did know is that the same day it landed in their inbox, abrdn was being axed from the benchmark FTSE 100 stock index after a decade. Once the UK’s biggest manager of investment funds, it was now too small. The shares fell to another record low on Friday.