Abrdn’s finance chief, Jason Windsor, is poised to become the next chief executive of the British fund manager following the departure of Stephen Bird, according to a report by the Financial Times. Windsor is expected to be officially appointed to the role as soon as Tuesday, coinciding with the company’s half-year results announcement, the newspaper reported, citing sources close to the process.
Despite the anticipation, Abrdn has stated, “No decision has been made on the appointment of a new CEO. When a decision is taken by the board, we will update the market in line with regulatory requirements.”
Stephen Bird stepped down in May after a challenging four-year tenure characterized by significant client cash outflows and a controversial rebranding effort. Windsor has been serving as interim chief executive while the company conducted a search for Bird’s permanent successor.
Abrdn has faced considerable challenges in reversing its fortunes, with persistent client withdrawals exacerbating its troubles. The company’s struggles were highlighted last year when it was demoted from Britain’s blue-chip FTSE 100 index.
During his tenure, Bird attempted to rejuvenate the business by cutting jobs, streamlining the range of funds, and expanding into the mass-market investing sector through the acquisition of the online platform interactive investor in 2022. He also explored the possibility of selling Abrdn’s underperforming investments arm, though he emphasized in January that the company had explored all scenarios and remained focused on retaining and revitalizing that segment.
The financial community will be watching closely to see how Windsor’s leadership will influence Abrdn’s strategic direction and whether he can succeed where his predecessor faced significant challenges.