New York-based activist investor Sherborne has become the fourth-largest shareholder in Barclays, raising the prospect of pressure being put on the bank’s board.
Sherborne, run by Edward Bramson, has picked up a 5.16 per cent stake in the lender for £580 million. It sits behind Capital Group, Qatar Investment Authority and BlackRock on shareholder register. Mr Bramson’s company bills itself as a “turnaround investment firm” and has a stated goal of doubling the share price of companies it invests in. It is understood he has met Barclays representatives.
CREDIT: By Ravender Sembhy, Press Association City Editor
Copyright Newsquest (Herald & Times) Ltd Mar 20, 2018, source Newspapers