Mar 19, 2018

Activist Edward Bramson takes 5% interest in Barclays

Edward Bramson's activist investment fund has acquired an interest in Barclays giving it voting rights of just over 5 per cent and increasing pressure on the British bank to turn round its faltering performance. Mr Bramson, who was born in London but moved to New York more than 30 years ago, is understood to have met the bank to discuss its results and to hear its outlook for the coming year. Peter Richardson, banks analyst at Berenberg, said the move highlighted investor ambivalence over Barclays. Barclays, which reported a full-year loss of £1.9bn last month, was one of the worst performing banks in 2017, falling more than 12 per cent while the Stoxx Europe 600 Banks index rose 7.5 per cent. Jes Staley, chief executive, has made a big bet that he can turn round the performance of Barclays' investment bank, which has been hit by a long period of low volatility in financial markets and changes to regulation on bank capital requirements.

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