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Barclays says Bramson boardroom bid could destabilise bank

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Barclays says Bramson boardroom bid could destabilise bank
The logo of Barclays is seen on the top of one of its branch in Madrid, Spain, March 22, 2016. REUTERS/Sergio Perez/File Photo   -   Copyright  Sergio Perez(Reuters)
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LONDON (Reuters) – Barclays on Tuesday urged shareholders to reject activist investor Edward Bramson’s bid for seat on the bank’s board, saying he lacks the necessary experience and has different incentives to other investors.

In its most detailed statement yet on Bramson, who is seeking election to the board at Barclays’ annual general meeting on May 2, the bank said that he is likely seek what it said could be a destabilising restructuring of the bank.

(Reporting by Lawrence White; Editing by David Goodman)

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