Pressure rises on F&C ahead of vote

first_img More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Show Comments ▼ WITH just three days to go before F&C Asset Management’s boardroom showdown with activist shareholder Sherborne Investors on Thursday, mood in the City has swayed toward the F&C board.Early enthusiasm for Sherborne’s proposed board takeover, replacing chairman Nick MacAndrew with its founder Edward Bramson, has been replaced with caution as investors weigh their options. Sherborne is supported by key investor Aviva, and shareholder service ISS concluded Bramson’s presence on the board would benefit shareholders in the long term, despite his lack of asset management expertise. “Bramson has a very good track record as a turnaround specialist,” it said. “Relevant board experience is more important than industry experience.”Many F&C investors are keen to see what fresh blood could do – but Sherborne has raised concerns by apparent misjudgements in its view of F&C. It has come under fire for arguing that F&C’s purchases of REIT Asset Management and Thames River Capital were expensive and contributed little to assets under management and earnings. Analysts see the Thames River deal as a transformational move that should boost F&C by adding a high-growth, high-margin firm with an ambitious leader, Charlie Porter. And as a people business, Porter represents exactly the sort of talent F&C would suffer from losing. Singer Capital analyst Sarah Ing said F&C was dogged by structural challenges dating back to its divestment from Friends Provident, but the board’s strategy was sound.“F&C is constrained by its structure,” she said. “But management has invested in high margin businesses. Short of breaking the firm up, it is unclear what would help.” Sunday 30 January 2011 10:39 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia whatsapp Pressure rises on F&C ahead of vote center_img whatsapp Tags: NULL Share KCS-content last_img