Barclays activist Ed Bramson set to lift lid on bank shake-up plans to CityComments Off on Barclays activist Ed Bramson set to lift lid on bank shake-up plans to City
Activist investor Ed Bramson is set to jet into London in October to lay out more details about his Barclays venture after lifting the lid for the first time on Wednesday.
The veteran activist is due to meet investors in his Sherborne vehicle in the autumn and is expected to give more details about his campaign at the bank, a source said.
Bramson owns a 5.4% stake in Barclays making him one of the bank’s top investors but has kept his plans for the company private until now.
Sherborne on Wednesday gave the first hints of its strategy for the bank, which included the search and mandate for a new chairman to replace John McFarlane when he leaves.
“Addressing these matters could improve Barclays’ financial strength and its long-term competitive position,” said Sherborne.
Capital allocation, the quality of earnings, capital adequacy and the cost structure are also issues that Sherborne said it had raised with Barclays.