abrdn swings back to profitability as it undergoes name change

Bringing back the vowels

abrdn’s profits before tax (PBT) stood at £251m in 2024, marking a significant departure from the £6m worth of losses recorded a year before, as the firm's name will change to 'aberdeen group'.

In its 2024 annual results released today (4 March), the rebound in the firm's PBT comprised higher adjusted operating profit, as well as "the gain on sale of the European-headquartered private equity business of £92m and lower restructuring and corporate transaction expenses of £100m (2023: £152m)". abrdn poaches Coutts' Siobhan Boylan for CFO role In addition, abrdn posted a profit for the year of £248m, significantly higher than the £12m recorded in 2023, while its assets under management and administration rose from £494.9bn in 2023 to £511.4bn last year. The interactive invest...