abrdn's board reportedly voted against a proposal from its chief executive Stephen Bird to sell the investment management business last year.
According to a report by Financial News, Bird sought to offload the £368bn investment arm of the company following its takeover of online investment platform ii, expressing "a personal preference" for such a transaction.
abrdn completes sale of $4bn US private equity and venture capital business to alternatives boutique
He presented the board with the strategic options for the firm in June, but the committee voted against the proposal and opted to keep the Edinburgh-based firm together, according to the news outlet.
The company recently sold its $4bn US private equity and venture capital business early last month, after attempting to sell the entire portfolio in its entirety for a period.
It s US arm also recently completed its acquisition of the healthcare fund management arm of Telka Capital Management, as part of a push to build out its offering in the sector.
abrdn completes acquisition of US specialist healthcare closed-end funds
A spokesperson for abrdn told Investment Week: "Strategy is about asking questions and testing alternatives. We do that in every strategy session. We have an agreed strategic direction that we are executing against at pace. Investment management is the core of our business, and we are making it more efficient and more relevant to our clients.
"We recently announced the successful acquisition of Tekla Capital which enhances our Health and Life Sciences capabilities in Investments, an area of significant growth potential in the years ahead."
