The CEO of Bank of America said he has no plans to step down in the near future and is currently grooming leadership talent.

At a time when some senior executives in the U.S. bank are being promoted to new positions to increase their management experience and raise concerns about succession issues, CEO Brian Moynihan said he has no plans to leave in the short term. "Looking ahead, one of the responsibilities that I and the management team have to the board is to cultivate a group of experienced candidates who can lead this company in the future," Moynihan said on Wednesday. "I will not be leaving in the short or medium term, but building this system and getting people accustomed to the size and scale of the company takes time."