Barclays PLC (LON:BARC) is set to meet with activist investor Edward Bramson this week to discuss his call for the bank’s investment arm to be drastically scaled back.
Sheborne Investors, Bramson’s vehicle, has a 5.4% stake in Barclays or enough to call an extraordinary general meeting of the bank.
READ: Barclays confirms appointment of Rothschild veteran Higgins as chairman
Reports over the weekend indicated Barclays chief executive Jess Staley and chairman John McFarlane would meet with Bramson in New York during this coming week.
McFarlane recently announced he is to stand down next May, which was one of the changes Sherborne was advocating.
Rothschild veteran Nigel Higgins will replace McFarlane who only as recently as this May said " They were “not getting rid of me yet”.
Some of the pressure on Barclays lifted after recent third-quarter results showed the investment bank increased its profit contribution to £2.5bn for the first nine months of 2018.
As well as dealing with Bramson, Barclays is still facing a possible criminal related to its capital raise from Qatar investors during the 2008/9 financial crisis.
The SFO is mulling an appeal after charges of conspiracy to commit fraud and the provision of unlawful assistance were thrown out by the Crown Court in May this year.