Barclays Bank announced Monday morning that activist investor Sherborne has bought a 5.2 percent stake in the lender, as the bank strengthens its strategy.
Sherborne Investors is an investment fund focused on “turnaround” business. Edward Bramson, its CEO, has conducted a number of operational changes in companies across different sectors, from chemicals and consumer products to financial services and packaging industries.
Barclays CEO Jes Staley has been under pressure from shareholders to make the investment bank profitable.
“As with all its shareholders, Barclays will continue to engage with Sherborne, and welcomes them as a shareholder,” Barclays said in a statement, according to Reuters.
Barclays shares rose to the top of the FTSE 100, by nearly 4 percent.