Abrdn finance chief Jason Windsor to replace Stephen Bird as CEO, Financial Times reports By Reuters

(Reuters) – Jason Windsor, the chief financial officer of British fund manager Aberdeen, is the frontrunner to take over as chief executive of the company after Stephen Bird leaves, the Financial Times reported on Saturday.

The newspaper reported, citing two sources close to the process, that Windsor could be formally promoted to the top position as early as Tuesday, when the company announces its half-year results.

“No decision has been taken on the appointment of a new CEO. When the board makes a decision, we will update the market in line with regulatory requirements,” the company said in a statement to Reuters.

Baird stepped down in May after a turbulent four-year period marked by large outflows of client money and a much-criticised rebranding.

Windsor served as interim CEO while the company searched for a permanent CEO.

The company has struggled to improve its standing after years of clients withdrawing money, with its difficulties highlighted last year when it exited the UK stock market.

Bird has tried to revive the business by shedding jobs, shrinking the scope of its funds and expanding into mass-market investing with the acquisition of online platform Interactive Investor in 2022.

Baird is said to have raised with the board the possibility of selling the investment arm, which has been underperforming in recent years. Asked about the matter in January, he told reporters the company had tested all scenarios but was focused on preserving and restoring the business.