The Traderszone Network

Published in TZ Latest News 21 September, 2015 by The TZ Newswire Staff

Win or lose, Bank of America vote shows new shareholder muscle

BOSTON/NEW YORK (Reuters) – A group of shareholders is looking to strip Bank of America Corp Chief Executive Brian Moynihan of his chairman title on Tuesday in an investor vote and whether they fail or succeed, they have notched a victory just by getting the bank to hold a special meeting on the matter. Tuesday’s vote is the culmination of months’ of work by investors including the California Public Employees’ Retirement System, the largest public pension system in America, after the bank’s board said last October that it was giving CEO Moynihan the title of chairman as well.