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Barclays braced for AGM showdown with activist investor Bramson

Barclays is preparing for a potential showdown with notorious New York-based corporate raider Ed Bramson at its annual general meeting in London on Tuesday.
Speculation is rife that Mr Bramson will turn up to the event at the QEII Conference Centre in Westminster, and that he could publicly call for a shake-up of the bank.
Mr Bramson missed the deadline to table a resolution for the AGM, raising the prospect of him having to attend in order to get his points across.
The activist investor has developed a fearsome reputation for building up stakes in companies in order to pursue aggressive campaigns for management change, and root-and-branch overhauls.
Barclays braced for AGM showdown with activist investor Bramson

Activist investor Ed Bramson has built up a more than 5pc stake in Barclays
His investment vehicle Sherborne has set its sights on Barclays as its sole UK target, having built up a stake of more than 5pc.
In meetings with other top investors, Mr Bramson is understood to have made the case for an overhaul of Barclays’ under-performing investment bank.
Reports suggest one option being examined is the divestment of Barclays’ trading business, which accounts for almost half of the unit’s revenues and ?60bn of risk-weighted assets.
But Barclays chief Jes Staley made clear last week after the bank’s first-quarter results that he wanted to stick to his two-pronged strategy of maintaining transatlantic strength in both retail and investment banking.
Barclays’ investment bank enjoyed a strong start to 2018, with trading revenues up 21pc.
Barclays swung to a ?236m quarterly loss due to one-off hits including a ?400m provision for PPI claims and a ?1.4bn settlement for past misconduct in the US.
Barclays and Sherborne declined to comment.
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