Oct. 5 (Bloomberg) -- Sallie Krawcheck, Bank of America Corp.’s head of wealth management, said she won’t do “stupid things” to pay policies that might spur financial advisers to leave the bank.

Speculation that Krawcheck will make changes that alter the culture at the Merrill Lynch unit Bank of America bought earlier this year is groundless, she said today in an interview on CNBC.

“We are not doing any of that stuff,” Krawcheck, 44, said, referring to changes in compensation and speculation that she would “smash U.S. Trust and Merrill Lynch together.”

Krawcheck, the former head of Citigroup Inc.’s Smith Barney wealth-management division, joined Bank of America in August. Chief Executive Officer Kenneth Lewis announced last week that he would step down at the end of this year.

“I’m very much focused on the job I’m doing,” Krawcheck said when asked if she would be interested in replacing Lewis.

To contact the reporter on this story: Josh Fineman in New York at Jfineman@bloomberg.net

Last Updated: October 5, 2009 14:05 EDT