Does a leading U.K. retail and commercial bank belong with a mid-ranking U.S.-focused investment bank? If you were pitching this as a new business, you’d surely struggle to find backers.
But this is where Barclays finds itself. The U.K.-listed bank needs to convince investors that it not only makes sense, but also has good prospects. A new activist investor in the form of Sherborne Investors, run by U.S.-based Edward Bramson, will sharpen minds.
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