abrdn CEO Stephen Bird exits as interim head is appointed

Stephen Bird today (24 May) stepped down as group CEO of abrdn with Jason Windsor, the current group CFO assuming the role on an interim basis until a successor is sourced. 

He stays on  for a further month to "ensure a smooth handover", departing formally on 30 June.

abrdn said in a statement it had "completed the critical first stage of its transformation into a modern and digitally-focused specialist asset and wealth management company", adding that it was "the right time for him to hand over the reins".

A formal search process considering external and internal candidates to replace Bird permanently has begun.

Douglas Flint, abrdn chair, thanked Bird for his achievements of the past four years: "Adapting the inherited business model to be capable of generating sustainable and profitable growth required strategic vision, intense hard work and the courage to make tough but necessary decisions.

"While this was underway, Stephen took time to assemble the talent needed to execute successfully on his strategic vision and he passes on to them, with confidence, the responsibility to execute the next stage of our transformation."

Bird said: "Together with a refreshed leadership team and an incredibly committed group of colleagues at all levels, we have refocused our global Investments business as a specialist asset manager, working to address its cost base and build mutually beneficial linkages with our wealth businesses.

"abrdn's position in the UK wealth market has been transformed through the acquisition of interactive investor together with investment in our adviser business; these are essential moves as the ongoing democratisation of savings responsibilities reinforces the demand for simple and cost-effective platform solutions to support individuals as they address their long-term financial needs."