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May 03, 2019 - City A.M.

ACTIVIST investor Ed Bramson suffered a crushing defeat yesterday in his battle to win a seat on the Barclays board.

The reclusive US-based fund manager, who has pushed for Barclays' under-fire investment bank to be scaled back, conceded defeat before the bank's annual general meeting got underway and made a swift exit just minutes after it began.

Bramson's bid gained just 12.8 per cent of shareholder votes, as 87.2 per cent of those who voted opposed his election to the board.

Aside from his own 5.5 per cent stake, and factoring in the turnout, Bramson could only persuade fewer than four per cent of the bank's other shareholders to support his bid...