Corporate raider Bramson happy at F&C Asset's turnaround

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Edward Bramson, the corporate raider who likes to shake up underperforming companies, yesterday signalled his satisfaction with the turnaround at F&C Asset Management but refused to comment on his latest target, 3i.

Mr Bramson, who started buying shares in F&C three years ago and organised a boardroom coup two years ago, said: "As a result of the hard work of restructuring during the last 18 months the company is now in a position to invest for growth in new markets and capabilities."

He handed day-to-day management to new chief executive Richard Wilson at the start of the year. But Mr Bramson is not believed to have any plans to start selling down his 20 per cent stake.