Sherborne's Bramson takes £580m stake in Barclays

Background in activist investing

Activist investor Edward Bramson has taken a 5% stake in Barclays based on the company's turnaround prospects.

Bramson, who founded Sherborne Investors, has taken a 5.2% stake in the bank, which equates to £580m in shares and derivatives.  In a statement, Sherborne said: "Sherborne Investors has advised the company that its turnaround assumptions indicate a potential return on the investment in line with Sherborne Investors' customary return objectives." Barclays launches impact fund of funds Sherborne said it reserves the right to increase or decrease this share amount at any time.  Shares in Barclays were up 4% this morning to trade at 217.5p but have fallen 19% over the past five year...