“The transformation expenses, which are going up in 2025, will trend down over time.”

In context

“rsonal banking. We've got a wonderful relationship with American Airlines. We've got a very exciting, net 26 lined up. You've seen us with new product innovations this year. With the Strata Elite coming out later on in the quarter. Retail banking, again, really hitting its stride now and feeding both well but also the broader NAM franchise. I feel good on the revenue side. But, Mark, let me pass to you. Mark Mason: Key point, obviously, revenue momentum. Another key point is continued expense discipline. And I think you've seen that through the first half and obviously the targets we've set for 2025. But that continues in 2026 and beyond. The drivers there are likely to be you know, continued reduction in severance. We talked about 2025 having a sizable severance estimate in our forecast. The transformation expenses, which are going up in 2025, will trend down over time. The stranded costs, which have been coming down, we brought cost stranded cost down by about $3 billion. There's still about $1.2 billion left. That'll trend down over the next couple of years, and then continued productivity some of which will be enabled by AI that Jane mentioned earlier. So those are a number of the drivers that we think will contribute to the continued expense discipline. And I used discipline intentionally because in order to capture that revenue momentum that we've seen in the first half and that Jane outlined, drivers of the forward look it's going to require continued investment. And so part of our responsibility is going to be driving efficiencies while making investments that allow for us to play for the longer-term returns and better serve our clients. So revenu”