Bank of America directors chose as chairman former DuPont chief executive Charles Holliday, 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 yesterday, partly reflects Holliday's experience running a sprawling global company, according to people familiar with the situation. Bank of America is pushing for more non-US growth to help replace revenue likely to be lost as US banks are hit with tighter regulation.