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1 year ago

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Breakingviews - Abrdn turnaround is still a marathon, not sprint

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Breakingviews - Abrdn turnaround is still a marathon, not sprint

Abrdn still has one big problem. Chief Executive Stephen Bird's turnaround at the $5 billion asset manager is gaining traction. Full-year results on Tuesday showed that interactive investor, the savings platform he acquired last year, grew revenue by 20%, despite lower trading volumes. It benefitted in particular from higher interest rates on clients' uninvested cash. Abrdn's unit that provides IT for financial advisers also churned out a healthy 4% growth in sales.

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Breakingviews - Abrdn turnaround is still a marathon, not sprint

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Breakingviews - Abrdn turnaround is still a marathon, not sprint

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