Barclays: Activist Bramson met with Old Mutual Global Investors last month as he plots to shake up the bank
Activist investor Edward Bramson met with Old Mutual Global Investors last month in a bid to gain support for his plans to shake up Barclays.
According to Financial News, Bramson met the investment manager’s chief executive Richard Buxton to try and gain support for his plans.
Bramson has amassed a 5.41 per cent stake in the bank via his investment vehicle Sherbourne.
Read more: Activist investor Bramson ups stake in Barclays
Financial News reports that Bramson and Buxton discussed Bramson’s plans to drive changes at Barclays investment bank, which could include as spin-off.
It said the two disagreed on the health and viability of the investment bank and Old Mutual Global Investors regarded a spin-off of the unit as too simplistic.
Old Mutual Global Investors holds a 0.31 per cent stake in Barclays.
Bramson has reportedly met other major shareholders of the bank in recent months in an attempt to get backing for his plans.
Read more: Activist Ed Bramson reportedly approaches investors over Barclays shake-up
He has not made any public comment since the news broke that he had acquired a more than five per cent stake in Barclays, worth more than £2bn.
In turn, Barclays has drawn up contingency plans with its corporate brokers to prepare for Bramson’s next move.
Old Mutual Global Investors declined to comment.