NEW YORK (Reuters) -Bank of America CEO Brian Moynihan said on Wednesday he is not leaving the bank in the short term, but added the company has to line up candidates with experience to run the company in the future, according to an interview on Bloomberg TV.
“I’m not going anywhere in the short term, but in the medium term… it takes a while to set that up and get people used to the size and scale this company,” Moynihan said.
“Long term, we have one of the duties that I and the whole management teams owes the board of directors is a series of candidates that had the experience to run this company over time,” he added.
BofA on Friday appointed Dean Athanasia and Jim DeMare as co-presidents, in a sign that the second-largest U.S. lender is preparing potential successors for CEO Moynihan.
Chief Financial Officer Alastair Borthwick was named an executive vice president.
(Reporting by Saeed Azhar and Arasu Kannagi BasilEditing by Nick Zieminski)
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