| Among shareholders of Bank of America Corp. that are pressing for broader changes to the company’s board, South Korea’s sovereign wealth fund is emerging as a vocal dissident. The sovereign fund, Korea Investment Corp., has contacted a few U.S. institutional investors that own Bank of America stock to work together and communicate regularly on shareholder issues, said a person close to KIC.
KIC, which has said it will vote against the board’s proposal to keep Brian Moynihan’s roles of chairman and chief executive combined, is disappointed at Bank of America’s stock performance and the dividend payouts since Mr. Moynihan took office in January 2010, according to the person...............................................Full Article: Source
|