“And we are on the path to reach our 11% to 12% return target over the medium-term.”

In context

“ts, partially offset by higher revenue in Mexico. And expenses increased 18%, primarily driven by the incremental FDIC special assessment and restructuring charges, partially offset by lower expenses from the wind-down and exit markets. Slide 18 shows our full year 2024 outlook and medium-term guidance, both of which remain unchanged. We have accomplished a lot over the past few years and have made substantial progress on simplifying our business and organizational structure. The year is off to a good start as we are laser focused on executing the transformation and enhancing the business performance. These two priorities will not only enable us to be a more efficient, agile company, but a client-centric one that brings together the best of Citi to drive revenue growth and improve return. And we are on the path to reach our 11% to 12% return target over the medium-term. With that, Jane and I will be happy to take your questions. Operator: At this time, we will open the floor for questions. [Operator Instructions] Our first question will come from Mike Mayo with Wells Fargo. Your line is open. Please go ahead. Mike Mayo: Hi. Well, you just finished your seven months of your org simplification and you said 7,000 positions go away with $1.5 billion of expense savings. So that's very concrete, but more generally after 20 years, 30 years, 40 years of matrix structure down to five lines of business, you're reporting these differently, you're talking about them differently. But the question that I think a lot of people have is, are you simply reporting these lines of business differently or are you actually running them differently? Thanks. Jane Fraser: Thank y”