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BofA Has Worst Governance Since Pre-Crisis Citigroup, Mayo Says


Bank of America Corp., which overruled a shareholder vote mandating an independent chairman, has the worst corporate governance of any big bank since Citigroup Inc. before the financial crisis, CLSA Ltd. analyst Mike Mayo said. Bank of America said last week that shareholders as of Aug. 10 will be allowed to vote on the change that enabled Chief Executive Officer Brian Moynihan to add the chairman title last year...

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