Reuters broke news on Nov. 17 that Barclays had put its entire board up for re-election due to growing pressure from institutional investors over its capital raising. The highly unusual move by the British bank was first revealed by a fund manager and later backed up by an industry source and was an indication of the level of discontent amongst investors over the fund raising. The story was unmatched by Bloomberg or Dow Jones and was cited across media including the BBC, the Financial Times, Wall Street Journal, the Guardian and the Telegraph. Barclays confirmed the move some 12 hours later as part of a broader package aimed at heading of a major shareholder revolt.
Reuters first with Barclays board reshuffle
17 November 2008, 12:00 am. 1 minute
Type: Reuters Best
Regions: Europe / Middle East / Africa
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