Barclays activist gets upside for everyone but him

Activist investor Edward Bramson lost his battle for a seat on the board at Barclays after shareholders on May 2 voted against his bid to restructure the UK lender’s trading unit.

Only 12.8 percent of votes cast voted in favour of Bramson's resolution, equal to 3.9 percent of the bank's shareholders, excluding Bramson's Sherborne stake, according to figures released by Barclays. New York-based Bramson has been sparring with Barclays boss Jes Staley for more than a year over plans to shrink the lender's investment bank to improve its returns.

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