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**Bloomberg: Moynihan Says He’s Not Leaving Bank of America Soon, Elevates Executives to Prepare Future Leaders**

**New York, NY** – Bank of America CEO Brian Moynihan has quelled speculation about his imminent departure, stating he has no plans to leave his position “in the short term or the medium term.” His comments, made during a Bloomberg Television interview on Wednesday, come as the bank announced the elevation of several executives to new roles.

Moynihan addressed the succession planning directly, emphasizing his commitment to developing future leaders. “Long term, one of the duties that I and the management team owe the board of directors is a series of candidates that have the experience to run this company over time,” he stated. He noted that preparing executives to manage a company the size and scale of Bank of America requires time and experience.

The reshuffling of executive positions is seen as a strategic move to provide potential successors with a broader understanding of the bank’s operations and to ensure a smooth transition when Moynihan eventually steps down. Bloomberg delivers business and financial information and news around the world.

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**Summary of the Text:**

Brian Moynihan, CEO of Bank of America, has stated he isn’t leaving his position soon. This statement coincides with the bank elevating executives to new roles, a move intended to develop potential successors and ensure a smooth transition when Moynihan eventually leaves. He emphasized the importance of providing the board of directors with a set of candidates equipped with the experience to lead the company in the future.

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