Stephen Bird News

He joined the asset manager in October 2023 as group chief financial officer from Persimmon Homes, where he held a similar role. Windsor became interim group CEO after former chief Stephen Bird abruptly resigned from abrdn in May 2024 with immediate effect. Stephen Bird exits abrdn as Jason Windsor takes interim CEO role Ian Jenkins will remain as interim group CFO for the time being, with abrdn now beginning the search for a permanent appointment. Douglas Flint, chair of abrdn, said: «I am delighted that Jason emerged from what was a very thorough process as the unanimous choic...

Then-ASI purchased a 50% stake in the joint venture for £40m plus capital adjustments of £10m, for a total sum of £50m, which has been purchased by Virgin Money for £20m, a 60% discount on the original purchase price.

'For fund buyers the most important aspects are the strength and stability of the business and the consistency of the team and process.'

Stephen Bird (pictured), abrdn CEO announced the firm would be embarking on a “transformation programme”, targeting a £150m reduction by 2025.

Investment Week understands that fund managers are not in the scope of the headcount reduction, which is set to trim roughly 10% of abrdn's workforce. (Pictured) Stephen Bird, abrdn CEO

Stephen Bird (abrdn), CEO of abrdn

Stephen Bird, CEO of abrdn

This marks the third acquisition abrdn has completed in this space over the past 12 months, making it, by its own calculations, the third-largest manager of closed-end funds globally.

Stephen Bird (pictured) has been CEO of abrdn since September 2020.

abrdn said the sale underlines its commitment to exit non-core businesses that 'no longer align to its overall offering or product strategy'.

abrdn CEO Stephen Bird noted the overall performance of the investment arm’s funds was 'not where we want it to be' and acknowledged there remains 'meaningful work to do'.

Until August 2022, few people had heard of Archax.

Abrdn posted a pre-tax loss of more than £600m for 2022, following a slump in assets and significant outflows in a year chief executive Stephen Bird called “one of the toughest investing years in living memory”.

Stephen Bird, the chief executive of Abrdn, had just touched down in the UK from a business trip to Japan when allegations surfaced about his management style. Several anonymous current and former staffers said that he presided over a dysfunctional environment and that senior leaders are afraid of him.

It is the first and only digital securities exchange that has won approval from the FCA with permissions covering trading, custody and brokerage and will launch later this year.Stephen Bird, CEO, abrdn, says: “Blockchain technologies are inevitably going to form a big part of the future of financial markets. There is the potential to offer greater transparency, greater speed and less trading friction by using these nascent digital technologies."Abrdn plans to use Archax as a route through which investors can access new investment opportunities through digital securities, connect to existing offerings in a new way through tokenisation and facilitate a shift towards greater operating efficiencies through the adoption of new technologies like blockchain.“With Archax, we will have a meaningful footprint in this fast-developing market - which is likely to evolve in a multitude of different ways that are relevant to our core businesses," says Bird.Despite the onset of a crypto winter, asset managers are looking to get in on the sector.

It is the first and only digital securities exchange that has won approval from the FCA with permissions covering trading, custody and brokerage and will launch later this year.Stephen Bird, CEO, abrdn, says: “Blockchain technologies are inevitably going to form a big part of the future of financial markets. There is the potential to offer greater transparency, greater speed and less trading friction by using these nascent digital technologies."Abrdn plans to use Archax as a route through which investors can access new investment opportunities through digital securities, connect to existing offerings in a new way through tokenisation and facilitate a shift towards greater operating efficiencies through the adoption of new technologies like blockchain.“With Archax, we will have a meaningful footprint in this fast-developing market - which is likely to evolve in a multitude of different ways that are relevant to our core businesses," says Bird.Despite the onset of a crypto winter, asset managers are looking to get in on the sector.

Abrdn's move reflects a wider surge in interest in digital assets from institutional investors.

Abrdn is on the cusp of making its first foray into digital assets — a segment of the non-traditional finance market that is fast becoming an attractive target for the global fund management sector.

Abrdn, the UK-listed asset manager, plans to pay bonuses to staff again after an almost 50% jump in profit and its first full-year increase in revenue since the 2017 merger between Standard Life and Aberdeen Asset Management.

Abrdn, the UK-listed asset manager, plans to pay bonuses to the majority of its staff again after an almost 50% jump in profits and its first full-year increase in revenues since its 2017 merger.

As London bosses start to welcome staff back in person, fears of a return of pre-pandemic office politics are flooding back.