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Brian Moynihan Pledges Devotion To BlackRock

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Bank of America has no plans to fully sever strategic ties with BlackRock, the world's largest asset manager, Chief Executive Officer Brian Moynihan told analysts in Boston on Thursday, [despite] BlackRock's announcement on Wednesday it planned to sell 34.5 million shares owned by Bank of America, in a secondary offering that could cut BofA's ownership from 33.9 percent to 12.6 percent. Moynihan said the relationship between the two companies will extend beyond his and BlackRock Chief Executive Laurence, or Larry, Fink's tenures. "We'll be together for the duration of Larry and mine's career and beyond," Moynihan said. [Reuters]

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