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Investor Edward Bramson has admitted bankruptcy in his long campaign against Barclays and sold his stake in the bank.
Sherborne Investors, Bramson’s fund, said in a statement that it had handed over 6.01 percent of its funds to Barclays and would channel the funds to an unidentified target. Sale Bramson did not convince other shareholders that Barclays should remove CEO Jes Staley for alleged sex offender Jeffrey Epstein.
“Sherborne Investors has informed the company that it believes the risks and rewards of a new investment opportunity that it has identified provide a better return on the company’s shareholders than Barclays’ ongoing investments, ”he said.
Since 2018, Bramson has called on Barclays to follow the example of German Deutsche Bank and withdraw from investment banks. He paused his campaign to oust Staley last April because of the coronavirus crisis.
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