Moynihanpresident and chief executive of Bank of America, said in a statement.

Looking to streamline operations and raise capital in recent years, the bank had previously concluded that BlackRock was not a core asset. Investors had long felt that Bank of America did not have the scale to be a force in the asset management business and could put its cash to better use elsewhere.

The alliance was formed inwhen Merrill Lynch reached a deal bank of america sale of blackrock stock sell its asset management division to BlackRock in exchange for a The discussions between Laurence D. Finkchief executive bank of america sale of blackrock stock BlackRock, and E.

BlackRock, Inc. (BLK) Rating Reiterated by Bank of America Corporation

Bank of America acquired Merrill Lynch during the financial crisis in Fink said in a statement. Sections Home Search Skip to content.

Bank of America sells $87 billion money-market funds unit to BlackRock | Charlotte Observer

The New York Times window. DealBook Bank of America Sheds Remaining BlackRock Stake.

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By Susanne Craig May 19, 9: