“I do think, given the size and the strength of Goldman Sachs, as a G-SIB and the way we're positioned, we're well positioned to compete with our clients for this business... So we are going to stay focused on that and we expect the business to grow over time.”

In context

“product. And the feedback that we're getting from clients about the product offering, how it works, what it allows corporate treasuries and CFOs to do is very positive. It's obviously attractive for us to take deposits, but we want deposits that are stickier and are here because people are operating on our platform. And so we're working hard to make sure, as we're adding clients, we're bringing the value that attaches the technology to what they're doing in a way that grows that platform. We are seeing positive results, but this takes time. These are long-cycle decisions. They're not day-to-day decisions on short-term trades. As Denis highlighted, we had good momentum in terms of customer count where people added themselves to our platform. And so we're going to continue to focus on that. I do think, given the size and the strength of Goldman Sachs, as a G-SIB and the way we're positioned, we're well positioned to compete with our clients for this business, coupled with the fact that we have an excellent product offering. So we are going to stay focused on that and we expect the business to grow over time. Brennan Hawken: Great. Thanks for that color. Appreciate it. And then for my follow-up, you all just announced this morning the new deposit arrangement with Apple. And the yield on that is pretty close to Marcus, a little above. How should we think about the economics of that Apple relationship and the deposits specifically? And then how do you manage potential risk for cannibalization with your own Marcus offering? Thanks. David Solomon: So thank you for the question. So obviously this is something that we launched yesterday that gives us another deposit channel. It's the opportunity for somebody that's a credit cardholder to put a deposit on. We've obviously looked very closely at the overlap between who holds credit cards”