Daily Management Review

Bramson Renews His Plea To Investors For Joining Barclay’s Board


04/21/2019


Barclays board needs to adopt a “more realistic and shareholder orientated” strategy.



Source: geograph.org.uk; © N Chadwick (CC BY-SA 2.0)
Source: geograph.org.uk; © N Chadwick (CC BY-SA 2.0)
On last Monday, Edward Bramson issued a “fresh plea” to the investors of Barclays requesting them for a seat on its board for himself, while a “war of words between his fund and the lender’s management ratchets up”.
 
Both the sides are trying to get the shareholders on board before the “annual general meeting” which is scheduled for May 2, 2019. Bramson has been making attempts to influence the company’s decision making for push forth his proposal to strategically overhauling “Barclays investment bank”.
 
In fact, last week itself both of them came out with their statements to lay out their respective case, while Bramson’s note on Monday revealed that he hasn’t changed his mind about his views on the change that needs to be affected in the bank.
 
In Bramson’s words:
“In our firm’s professional opinion, the stubbornly low valuation that the market accords to the shares of Barclays will continue until the board finally adopts a strategy that is more realistic and shareholder orientated”.
 
In fact, last week itself, Barclays stated that its plan is to keep up the efforts of bringing in an improvement in the performance of the investment bank instead of scaling up the size. Following his, Bramson repeated his plea to join the bank’s board. He said:
“Our public investment record shows that we have consistently assisted boards, that were initially reluctant, to deliver major increases in value for all of the shareholders”.
“We believe that, given mutual goodwill, and some change in perspective, Barclays offers similar opportunities.”
 
 
References:
reuters.com







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