One of the UK’s largest asset managers is changing its name to Abrdn – pronounced “Aberdeen” – in a bid to attract a younger client base by mimicking the naming approach of some startups.

In a major rebrand complete with its own video, the company created by a 2017 mega-merger announced the new name Monday. The rebranding is "modern, dynamic and, most importantly, engaging," chief executive Officer Stephen Bird said in a statement.

“Our new name reflects the clarity of focus that the leadership team are bringing to the business.” Twitter was quick to disagree.

The rebranding will begin in the summer and progress through the rest of the year. The merger of Standard Life and Aberdeen Asset Management in 2017 was intended to help it grow quickly to compete with the industry's heavyweights. – Bloomberg