By Reuters Staff
(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.)
The logo of Barclays bank is seen on glass lamps outside of a branch of the bank in the City of London financial district in London September 4, 2017.
ZURICH (Reuters Breakingviews) - Concise insights on global finance.
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LITTLE TO SHOW. Edward Bramson is exiting Barclays after a three-year campaign that bore his Sherborne Investors little visible fruit. Sherborne leaves with what looks to be a loss on its investment, having failed to alter the UK lender’s model in any discernible fashion.
That marks a victory for Jes Staley, the chief executive who stuck to his guns, and his board, which ignored Bramson’s calls to dismantle Barclays’ investment banking and markets business. Shareholders knew that already, though, after the bank last week reported its most profitable quarter in years thanks to the very businesses Bramson wanted to chuck.