Bank of America, which is thinning its stake in BlackRock, does not plan to totally cut strategic relations with the asset manager, BofA CEO Brian Moynihan was quoted by Reuters as telling analysts.

"You can invest in BlackRock and we'll focus on being a strategic partner with them for a long, long time," Moynihan said.

He told analysts at the 2010 BancAnalysts Association of Boston conference that relations between the two firms will outlast his and Fink's tenures at their respective firms.

"We'll be together for the duration of Larry and mine's career and beyond," he said.  

Edited by: Armie Margaret Lee


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