F&C Asset Management has asked its shareholders to reject an attempt by an activist investor to oust its Chairman, Financial Times reports. The board is resisting a move by Edward Bramson, whose Sherborne vehicle owns a 17.6% stake, to install himself as Chairman in place of Nick MacAndrew. Sherborne is also looking to remove Brian Larcombe, the former 3i CEO, from the F&C board and appoint Bramson’s associate Ian Brindle and former Clifford Chance lawyer Derham O’Neill. Bramson will need approval from the Financial Services Authority to become Chairman if he wins the vote.

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