“Our plan is to improve the segment margin to 25% or higher over the medium term on the back of a combination of growth and efficiency initiatives.”

In context

“st global collateral manager in the world, we have a special role in financial markets and we're taking this role very seriously. No doubt, this business grows as markets grow, but we're not resting on our position. Our Clearance and Collateral Management business is one of the most innovative in the company. And so we're confident that this business can maintain its healthy growth trajectory by continuously launching new flexible collateral management solutions that position our clients to meet their growing liquidity needs and by continuing to increase collateral mobility and optimization across global client venues. Next, Investment and Wealth Management on Page 18. Investment and Wealth Management reported a pre-tax margin of 12% for the full year 2023, or 17% excluding notable items. Our plan is to improve the segment margin to 25% or higher over the medium term on the back of a combination of growth and efficiency initiatives. First, we're unlocking BNY Mellon's distribution power for the benefit of our investment firms and our clients. Most importantly, we're in the process of creating a firmwide distribution platform that combines enhanced products with offerings from select third-party managers to provide best-in-class solutions. Additionally, we're making enhancements to how we're offering Dreyfus Cash products across our enterprise-wide open architecture liquidity ecosystem to improve visibility and enhance platform share. Second, we're expanding our products and solutions with a focus on scaling our investment capabilities across Investment Management, Wealth Management and Pershing. And heard, we're driving efficiency and scale by realizing the benefits as multi-year infrastructure investment programs ar”