08:45 AM EDT, 04/08/2024 (MT Newswires) -- Bank of America ( BAC ) should split the chief executive officer and chairman roles held by Brian Moynihan, proxy advisers Glass Lewis and Institutional Shareholder Services reportedly said Friday, according to a Reuters report.

"Appointment of a chair of the board who is independent of management, i.e. not also serving as CEO, is nearly always preferable to having a single individual lead both the board and the executive team," Glass Lewis reportedly said in a note.

BofA did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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