Corporate robber Edward Bramson urges Barclays & # 39; investment bank to be hacked back to boost shares
Business robber Edward Bramson accused Barclays' bosses of following a flawed strategy that will only cost investors money
The corporate robber who demands a seat on the Barclays board has insisted that his investment arm be cut back to stimulate shares.
As the war of words escalated, US-based Edward Bramson accused Barclays' bosses of following a flawed strategy that will cost investors money.
The last time the lender attended the lender's annual meeting next year, Bramson wants to win a vote from a shareholder, making him a non-executive director.
He is expected to promote major cuts compared to the valued investment banking arm of the lender.
In the letter to Barclays' donors, Bramson's fund Sherborne Investors stated: "The stubbornly low valuation that the market allocates to Barclays shares will continue until the board ultimately adopts a strategy that is more realistic and shareholder-oriented."
Barclays has urged shareholders to vote against the appointment of Bramson on the board of directors.
In its own letter last week, the bank claimed that Bramson did not understand the sector and would not be able to cooperate with other directors in an honest and open manner.
But the 68-year-old Bramson insisted that he could play a useful role on the board by offering an alternative point of view.
He said: We think that a board of 12 or more senior business people should be able to occasionally absorb and resolve differences in perspective and achieve better and more sustainable results for shareholders than a council that can't do that.
& # 39; An alternative vote on the board seems healthy for the company and its shareholders. & # 39;
It came as a shareholder advisory group, Glass Lewis, which devastated Bramson and urged investors to vote against his appointment to the Barclays board.
Barclays refused to respond last night.