Feb 25, 2020

Activist Bramson urges Barclays to end ‘cycle of disruption’

Edward Bramson, the activist investor targeting Barclays, has called on the bank's chairman to end the "Cycle of disruption" at the lender after British regulators opened an investigation into the relationship between its chief executive and Jeffrey Epstein. In a letter to his investors, Mr Bramson said the Epstein probe was "Another example of governance weakness that has led, inevitably, to the recurrent public disappointments and embarrassments which have plagued Barclays for so long". Spokespeople for Barclays and Mr Bramson declined to comment on the letter. The activist controls about 5.5 per cent of Barclays shares, according to one person briefed on the holdings. The missive is the latest salvo in the battle between Barclays and Mr Bramson, who first invested in the bank in 2018 before agitating for the company to restructure its low-returning investment bank.

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