Experts divided on abrdn takeover risk as Bird doubles down on cost-cutting

AUM size may prevent bids

Eve Maddock-Jones
clock • 4 min read

abrdn’s latest round of cost-cutting measures have divided experts on whether CEO Stephen Bird has done enough to shore up the security of the Edinburgh-based firm, and if a takeover is on the cards.

In a stock exchange notice this morning (24 January), abrdn announced it would seek to reduce its annualised costs by £150m by the end of 2025, which will include around 500 staff redundancies.  The firm said the majority of the cost-cutting measures will focus on eliminating unnecessary internal procedures, including "the removal of management layers, increasing spans of control, further efficiency in outsourcing and technology areas, as well as reducing overheads in group functions and support services". Investment Week reported on Tuesday (23 January) that fund managers have been r...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Fund management

Rathbones IM net inflows more than halve in 2023

Rathbones IM net inflows more than halve in 2023

Planned relocation to Investec W&I’s offices

Eve Maddock-Jones
clock 06 March 2024 • 4 min read
Experts divided on abrdn takeover risk as Bird doubles down on cost-cutting

Experts divided on abrdn takeover risk as Bird doubles down on cost-cutting

AUM size may prevent bids

Eve Maddock-Jones
clock 24 January 2024 • 4 min read
Chilean boutique takes 25% stake in Aubrey Capital Management

Chilean boutique takes 25% stake in Aubrey Capital Management

LarrainVial Asset Management

Eve Maddock-Jones
clock 16 January 2024 • 1 min read
Trustpilot