In a significant development for the British fund manager, Abrdn's finance chief, Jason Windsor, is reportedly the leading candidate to assume the position of chief executive following the departure of Stephen Bird, according to the Financial Times. This news comes amidst anticipation that Windsor may be formally appointed to the top job as early as Tuesday when the company releases its half-year results.

Anonymous sources familiar with the matter shared the news with the Financial Times, indicating that Windsor's appointment as the next CEO of Abrdn is highly likely. However, the company has not made an official decision on the matter yet. In response to the report, Abrdn 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 as CEO of Abrdn in May after facing challenges during his four-year tenure. His term was marked by significant outflows of client cash and criticism surrounding the company's rebranding. Since Bird's departure, Jason Windsor has been serving as the interim chief executive until a permanent CEO is appointed.

Abrdn has faced difficulties in recent years, struggling to regain its financial stability as clients continued to withdraw cash. In a significant blow, the company fell out of Britain's prestigious FTSE 100 index last year. As part of his efforts to reinvigorate the business, Bird implemented cost-cutting measures, streamlined the range of funds offered, and ventured into mass-market investing by acquiring the online platform Interactive Investor in 2022. Furthermore, Bird had reportedly presented the idea of selling Abrdn's underperforming investments arm to the board in an attempt to revive the company's fortunes.

The appointment of Jason Windsor as CEO could mark a turning point for Abrdn and provide the leadership needed to navigate the company through its current challenges. All eyes will be on the upcoming announcement by Abrdn's board regarding the appointment of a new CEO, as investors and industry observers eagerly await the company's strategic direction under its new leadership.