Bloomberg News reports that Barclays’s activist investor is stepping up a campaign to shrink the trading business by drumming up support among the British bank’s non-executive directors, according to a person familiar with the matter.
Bramson, who has also been courting fellow shareholders in California, New York and London in recent weeks, has told some that he has the firepower to increase his stake, the person said. With his current investment of over 5 percent, he is able to call a general meeting of shareholders, although this is not the preferred route, according to the person.
The activist investor reiterated that he doesn’t want Barclays to pour more capital into the corporate and investment bank, which is the lowest-return business at the lender, the person said.
Hit the link below to access the complete Bloomberg News article:
Have something to tell us about this article?