Edward Bramson of Sherborne Investors sold all his 6% stake in Barclays PLC, according to the Wall Street Journal. The sale brought an end to Bramson’s years-long effort to reorganize the bank.
Bramson had tried joining the Barclays board by requesting Barclays C.E.O to reduce its capital operations by investing more in U.K’s retail operations.
Sherborne, which was one of the Barclays biggest shareholders, with about $2.5 billion stake, tries to take leadership roles in all the companies it invests in.
Barclays CEO Jes Staley has always rejected Mr. Bramson’s calls for a smaller and less risk-taking Barclays.
Sherborne has struggled to make profits on Barclays as the bank returned a loss of about 8% since Bramson’s company disclosed stake in 2018.
Barclays stock is currently gaining as Sherborne declines. BARC: LON is up 3.14%, SIGB: LON is down 15.38%
