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Bank of America

Bank of America shareholders let Moynihan keep CEO and chairman jobs

Bank of America Chief Executive Brian Moynihan will keep both his CEO and chairman positions after a Tuesday vote by shareholders.

It was a significant win for the bank, which had lobbied hard for the dual role.

Only 63% of eligible shareholders voted in favor, however, far from a solid majority, showing how far the bank must still go to win the trust of its investors.

In 2009, BofA's shareholders voted to strip the chairman title from then-CEO Ken Lewis, partly as a vote of no-confidence after a series of bungled and controversial acquisitions, including the purchase of mortgage lender Countrywide Financial and the financial firm Merrill Lynch.

BofA's board of...