Bank of America Corp. directors chose as chairman former DuPont Co. chief executive Charles O. Holliday Jr., elevating a close adviser to the giant bank's new top boss.

The move, which came after the Charlotte, N.C., company's annual shareholder meeting Wednesday, partly reflects Mr. Holliday's experience running a sprawling global company, according to people familiar with the situation. Bank of America is pushing for more non-U.S. growth to help replace revenue likely to be lost as U.S. banks are hit with tighter regulation.

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