“To answer your question very directly, yes, it is still the case. We are going to bend the curve, as I have mentioned in – towards the end of 2024. It does mean an absolute dollar reduction in expenses.”

In context

“t hopefully, that gives you some sense of the scenarios there. But I would end with just one final point that Jane has made already, which is that the outcome that we choose will be the best outcome for our shareholders, our clients and employees. Jane Fraser: And that will be an exit. Operator: Thank you. Our next question will come from Matt O’Connor with Deutsche Bank. Your line is open. Matt O’Connor: Hello. You guys have talked about bending the curve on cost, I think in the latter part of 2024. And I wanted to see if that’s still the case. And I guess maybe just some clarification on what bending the curve means. Is that slowing expense growth absolutely dropped? Any kind of clarity on that and cost in general kind of medium-term would be helpful. Thank you. Mark Mason: Thanks Matt. To answer your question very directly, yes, it is still the case. We are going to bend the curve, as I have mentioned in – towards the end of 2024. It does mean an absolute dollar reduction in expenses. Matt O’Connor: Okay. That’s helpful. And then I mean I think in the past, you have kind of insinuated that, that’s like the start of, hopefully, a more material drop in costs beyond, obviously, if it’s far away, but just any additional color there, too. Thank you. Mark Mason: Yes. Look, again, look, the expense base is a key area of focus for us, right. We recognize that expenses have been growing. They have been growing because we have been investing in the franchise, both transformation-wise, as well as business-led growth to support the competitive advantages that we have in many of our franchises. But we are managing that very actively and very deliberately. And that means that we are looking to ensure that we are spending the money in the right way and the right places and that we ar”