Photo: Reuters Photo: Reuters
Sherborne Investors’ sale of its 6% stake in Barclays has been a long time coming. Indeed, Edward Bramson’s presence as a shareholder ceased being a concern for the bank’s management and board some time ago.
But it would be wrong to say that the limited success of Bramson’s campaign to overhaul Barclays is proof that banks are immune from activist campaigns.
Valuations are even lower than in 2018. It is even more urgent for banks to refocus on their strongest businesses.
Bramson, it should be noted, is by no means a mainstream activist. That made it harder to strike fear into Barclays and harder for him to gain credibility among investors and other stakeholders.
A
Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; 4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;