Activism in the Banking SectorEuropean Banks Tipped for Further Activism Despite Sherborne’s Barclays Defeat 08 June 2021
Pablo Mayo Cerqueiro of Mergermarket, an ION Group company, penned an article on the recent activist campaigns targetting the banking sector.
Andrew Brady and Ali Saribas both provided comments to Mergermarket on the recent trends observed within the sector. Excluding climate-related initiatives, Europe’s banking sector has seen nine activist campaigns launch since 2019, according to data by Activistmonitor. Last year recorded the peak for the period with four new campaigns, while two campaigns have kicked off in 2021 so far. Results have been mixed, with a handful of campaigns yielding clear success.
The full article can be accessed here (subscription required).
Activist investors are expected to launch more and bolder campaigns for change among European companies in the year ahead, advisers told Reuters, after a record number in 2023.
AQTION, a subsidiary of SquareWell Partners, published its inaugural study – ‘Stewardship in AQTION’ – which details how the world’s largest 65 asset managers and owners steward their portfolio companies and how they incorporate extra-financial considerations into their investment decision-making processes.
Carl Icahn is preparing for a second board battle at gene-sequencing company Illumina after shareholders elected his candidate, Andrew Teno, to the company’s board and ousted the chairman, John Thompson, in May. Icahn then successfully pushed out former CEO Frances DeSouza in June.