“But over time, I expect that, the targets that I've set are the targets that we will achieve and even more, because as Jane mentioned 10% to 11%, while that's our 2026 target. It is not our longer-term target, as we think about RoTCE and the strength of these businesses in the aggregate franchise.”

In context

“rganize this way, get rid of your two intercompany holding companies, eliminate five layers of management, expand the span of control. You guys went through a lot last year. I'm just wondering, is the worst over in terms of that kind of reorganization internally and the culture and the sentiment and how you see that continuing? But first a concrete question about the targets please. Mark Mason: I guess I'll start first. In terms of the targets, look, we set the targets across each of the lines of business for the medium-term. We've obviously brought down the 2026 to 10% to 11%. And so, you'd imagine, there's some movement at least for the 2026 in terms of those targets. Banking will likely be a little bit lower than the mid-15% if I think about 2026, as being that medium-term target date. But over time, I expect that, the targets that I've set are the targets that we will achieve and even more, because as Jane mentioned 10% to 11%, while that's our 2026 target. It is not our longer-term target, as we think about RoTCE and the strength of these businesses in the aggregate franchise. Hopefully, it answers your question. Jane Fraser: On terms of org simplification, culture, the best is still ahead that is for sure. The org went through a lot. I'm really proud of how people responded, and I think we're really proud of how each of the lines of business are driving the business performance forward. The bank is simpler. There is tremendous transparency for me. There's much greater proximity to the businesses now, and you can see that the benefits that we're starting to realize from the strategy as we get closer and closer to the RoTCE targets and beyond for each of the businesses. So I am pleased to have '24 behind us. I'm proud of what we achieved in 2024. All the focus is on the future onwards. Operator: There are no further questions. I'll now turn the call over to Jenn”