“That should free up a bunch of financial resources.”

In context

“with Morgan Stanley. Betsy Graseck: Hi, good morning. David Solomon: Good morning, Betsy. Denis Coleman: Good morning. Betsy Graseck: Two questions. One follow-up on the consumer business, I heard you on the markets pull back, you’re going to see originating there. Does that give you more room to lean into growth and we should expect acceleration and the partner card GreenSky, those pieces that you are keeping or is this market pullback going to feed either capital increase or the ability to lean in other business lines like the ISG business? Denis Coleman: Sure. Betsy, it’s Denis. I’ll start with that. So as we indicated, we’re going to cease the originations in under Marcus lending. And then furthermore, expect for that portfolio actually to roll off or we may pursue other alternatives. That should free up a bunch of financial resources. We’re continued within the overall asset and wealth management segment where the deposit business is resident within the private banking and lending line. That remains a strategic priority for the firm, and we’ve experienced very good growth there. That business is achieving more and more scale. So that will remain an ongoing focus. I think once we have reduced some of the resourcing allocated to markets and lending, we will continue to narrow the focus of our ambitions and our investment spend. And within the Platform Solutions business, we’re now down to three different businesses: transaction banking, the cards platform and our point-of-sale lending business, GreenSky. And our focus is really on just narrowing to drive those businesses across the segment to profitability. Betsy Graseck”