The investment group Abrdn plunged into the red in the first half of the year, after being hit by market turmoil and the withdrawal of more than £24bn of assets linked to a cancelled deal with Lloyds Banking Group.
Stephen Bird, the chief executive who scrapped the Standard Life Aberdeen brand for a new name last year, said the pre-tax loss of £320m in the six months to June “largely reflected the challenging global economic environment and market turbulence”. The group had reported profits of £113m a year earlier.
