Single crystals of BiFe0.9Co0.1O3 and BiFe0.892Mn0.008Co0.1O3, room temperature ferroelectric ferromagnets, were successfully grown by a flux method at a high pressure of 3 GPa. Remanent magnetization measurements along 18 crystallographic directions revealed the existence of a magnetic easy plane perpendicular to the electric polarization. Reorientation of the magnetic easy plane occurred in connection with 71° ferroelectric switching by applying an electric field. This is the first demonstration of an electric field affecting the local magnetic moment of Co-substituted BiFeO3.