“And importantly, in my prepared remarks, I said that we funded the entirety of our investment plan for the second quarter from efficiency, and we expect that to continue over the medium term.”

In context

“re three parts to the question is like one, BNY Mellon client franchise, we go at it every single day with incredible intensity. We want clients to do more with us across different parts of the firm, and we are really working hard at that. The second point is expenses. Two quarters in, we are very pleased with where we are. We like the forward in terms of how we are executing and how the firm has set up to execute. I would remind you, like this time last year, we conducted a bottoms up exercise where we took 1,500 ideas across the company from all our team members around the world, put a bit of investment dollars behind it, digitization, automation and eliminating manual processes. And in the expenses flat quarter-over-quarter, you're beginning to see the dividends of that paying through. And importantly, in my prepared remarks, I said that we funded the entirety of our investment plan for the second quarter from efficiency, and we expect that to continue over the medium term. And then NII, we will just prepare as we go. And the outlook is uncertain, but we will manage through it. Robin Vince: Glenn, I'll add one thing to that, which is as you look across our strategy, we were very clear at the beginning of the year about what we wanted to achieve this year. We set out these three points of our outlook, our guidance for 2023. And of course, the year is always going to evolve a little differently than you imagine it will right at the beginning of the year. And we've certainly had a year like that this year, where we've had unexpected things happening in all quarters of financial markets. And so what we have done is we stuck very deliberately to our medium-term plan. And we've not allowed ourselves -- well, we manage every quarter, of course, deliberately every i”