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

(Reuters) -Abrdn finance chief Jason Windsor is the front-runner to become the next chief executive of the British fund manager following the departure of Stephen Bird, the Financial Times reported on Saturday.

Windsor could be formally elevated to the top job as soon as Tuesday when the company reports half-year results, the newspaper reported, citing two sources close to the process.

“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,” the company told Reuters in a statement.

Bird stepped down in May after a turbulent four-year tenure marked by deep outflows of client cash and a much-criticised rebranding.

Windsor took over as interim chief executive while the company looked for a permanent CEO.

The company has struggled to turn around its fortunes after years of clients pulling cash, with its difficulties were underscored last year when it tumbled out of Britain’s blue-chip .

Bird tried to revive the business by shedding jobs, reducing its range of funds and expanding into mass-market investing through the takeover of the online platform interactive investor in 2022.

Bird was reported to have pitched to the board the possibility of selling Abrdn’s underperforming investments arm in recent years. When questioned on the matter in January, he told reporters the company had tested every scenario but was focused on keeping and restoring that business.