ABRDN Recap

ABRDN has announced a new CEO and Chairman of the board following the announcement of its merger with B.X. Stephen Bird, CEO of CITI Bank, who will join as Chairman and Non-Executive Director. ABRDN share price is up by 19.33% since the announcement of the B.X. merger in Q1 2019

Stephen Bird

Stephen Bird is the Chief Executive Officer and President of CitiGroup Inc., an investment bank with worldwide offices established in 1812 by a group of merchants from Philadelphia, USA. It currently employs over 200 000 people worldwide through its subsidiaries, including Citi & Co., Citigroup Financial Services Inc., and others. They provide financial services such as loans/credit card services/mortgages etcetera.

FTSE 100

The FTSE 100 was created in 1984 with an initial base level of 1000 points, starting at this number to avoid any bias towards growing companies over old ones. It is a stock market index that tracks the performance of 100 large companies listed on the London Stock Exchange. It is a price-weighted index, which measures how much each company’s shares are worth in relation to their prices rather than their market capitalization.

ABRDN’s share price increase

ABRDN’s share price has been up by 19.33% since the announcement of the B.X. merger in Q1 2019. This increase is due to several factors, including:

• The merger is expected to be completed by 2022. Once completed, ABRDN will create a new global banking giant with over $5 trillion in assets under management (AUM) and an estimated 8 million customers worldwide.
• ABRDN has received approval from FINRA – Financial Industry Regulatory Authority.

ABRDN is a United Kingdom-based financial services company. It provides personal loans, mortgages, and insurance products to consumers in the United Kingdom. There is an expectation of seeing ABRDN’s share price continue to rise as the company continues to grow.

Read on to find out about ABRDN at Financial Times