logo-loader
viewBarclays PLC

Activist investor Edward Bramson still calling for overhaul of Barclays investment bank

“The investment manager’s present intention is to continue its dialogue with Barclays for as long as it appears to be appropriate to do so,” Sherborne Investors said

barclays

Activist investor Edward Bramson is still urging Barclays PLC (LON:BARC) to scale back its investment bank, three months after losing his bid for a seat on the board.

Bramson’s investment vehicle Sherborne Investors C said in a half-year report on Tuesday that it had told Barclays that an overhaul of the investment bank could improve its financial strength and increase shareholder value.

“The investment manager’s present intention is to continue its dialogue with Barclays for as long as it appears to be appropriate to do so,” it said.

At the bank’s annual general meeting in May, shareholders voted against Bramson’s request for a boardroom seat to push forward his proposal to downsize the investment bank.  

Sherborne Investors C, which owns a 5.48% stake in Barclays worth about £1.3bn, said on Tuesday that it “continues to pursue its strategy” to improve the value of its holdings.

Barclays has ignored Bramson’s calls to streamline its investment bank as it believes it can improve the performance of the division.

In the first half, revenues at the investment bank were broadly flat compared to a year ago at £5.3bn.

Quick facts: Barclays PLC

Price: 81.966 GBX

LSE:BARC
Market: LSE
Market Cap: £14.22 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Morning Report: FTSE 100 opens in red ahead of US job numbers; Bail-out for...

Headlines from the Proactive UK newsroom. London’s leading shares are set to open on the back foot this morning ahead of the release later of US jobs figures for March.. But economists say the full scale of the rising jobless in the US economy will be revealed in next month’s...

1 hour, 3 minutes ago

RNS

FORM 8.3 - ABBVIE INC - Amendment

16 hours, 36 minutes ago

Form 8.3 - ALLERGAN PLC - Amendment

16 hours, 37 minutes ago

Form 8.3 - ABBVIE INC - AMENDMENT

19 hours, 38 minutes ago

Form 8.3- ABBVIE INC

20 hours, 28 minutes ago

Form 8.3 - ALLERGAN PLC

20 hours, 30 minutes ago

Form 8.5 (EPT/NON-RI) - HUNTSWORTH PLC

21 hours, 40 minutes ago

2 min read