August 20, 2019 / 6:21 AM / 2 months ago

Activist Bramson still pushing for Barclays overhaul

LONDON, Aug 20 (Reuters) - Activist investor Edward Bramson is continuing to push for an overhaul of British banking giant Barclays, according to a report filed by his investment vehicle Sherborne Investors.

Bramson lost his battle for a seat on the board of Barclays in May after shareholders voted against his bid to downsize its under-fire investment bank from within.

But in a half-year report published on Tuesday, Sherborne Investors C said it had advised the board that pursuing its strategy could boost Barclays’ “financial strength and long-term competitive position” 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 added.

Sherborne Investors C owned 5.48% of Barclays as of May 10, the report said. (Reporting by Iain Withers Editing by Rachel Armstrong)

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