BlackRock’s chief executive has made a pledge that the world’s largest asset manager will not lay off any of its more than 16,000 employees as a result of the Covid-19 pandemic — making it the latest financial institution to reassure staff that jobs are safe during the crisis.

Writing on LinkedIn, Larry Fink said more than 90% of BlackRock staff were now working remotely as a result of the pandemic, adding that those who support facilities, such as cafeteria and maintenance staff, will also receive full-time pay.