Pension funds want Bank of America shareholders to have say on c

November 9, 2014 1:53 AM

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Pension funds want Bank of America shareholders to have say on c

Two major pension funds have asked Bank of America to allow shareholders to vote on the board's decision to hand the chairman's title to CEO Brian Moynihan, creating a potential showdown over the issue at next spring's annual meeting.

The California State Teachers' Retirement System and New York City Comptroller Scott Stringer sent a letter Tuesday to the Charlotte bank asking for a vote on the bylaw change that directors made last month to allow Moynihan to hold both titles, said CalSTRS spokesman Ricardo Duran.

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