Edward Bramson, an activist investor with a more than 5% stake in Barclays PLC, said he will call for board changes at the British bank after he was denied a board position himself, Bloomberg News reported Jan. 7.

Bramson, who plans to seek shareholder approval for the changes, had looked to obtain a nonexecutive director position in September 2018. In a letter to his investors in December, he said he had lost faith in his dealings with the bank, Bloomberg News reported.

Bramson, who runs Sherborne Investors, wants Barclays to downsize its investment banking business, putting him at odds with CEO Jes Staley.