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Here’s Why BofA CEO Moynihan Probably Keeps His Chairman Title

  • Investors vote Sept. 22 on a bylaw that gave him both titles
  • Most of the bank's top shareholders typically allow dual roles
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Will BofA CEO Moynihan Keep His Chairman Title?

If Bank of America Corp.’s biggest shareholders are any indication, Chief Executive Officer Brian Moynihan probably will be allowed to remain chairman.

BlackRock Inc., Vanguard Group Inc. and other institutions among the bank’s 10 largest shareholders typically side with management in keeping the top roles combined, according to their public proxy guidelines. Bank of America is holding a Sept. 22 vote to ratify a 2014 bylaw change that gave Moynihan both titles.