Total assets under management fell to $6.47 trillion, near the same level as the first quarter of 2019.

BlackRock also said Thursday it saw adjusted first-quarter earnings per share of $6.60 and revenue of $3.71 billion. Those results beat analyst estimates.

More than 90% of BlackRock’s employees, including Fink, have been working remotely amid the virus-induced lockdowns. Fink previously said he would not lay off any of his more than 16,000 global employees in 2020 as a result of the pandemic.

Fink said Thursday that he believes the economy will be slow to “reboot,” and that the pace of the recovery will depend on adequate testing for the virus.

This article was provided by Bloomberg News.

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