Activist investor Edward Bramson has admitted defeat in his three year campaign to unseat Barclays’ chief executive Jes Staley and force the lender to shrink its investment bank. Mr Staley argued the developments vindicated his thesis that an investment bank was a good counterbalance to retail lending during a crisis. Mr Bramson called the situation surrounding the chief executive “a destabilising. BoardAs the pandemic erupted, Mr Bramson briefly paused his campaign, only to restart it again last August. The secretive fund is based in Guernsey and Mr Bramson rarely gives interviews, preferring to communicate via letters to his investors.

Source: The Irish Times May 07, 2021 11:10 UTC