“But I'd just highlight, when you go back to our core business, banking and markets, where we are a leader and I think given the mix of that business is performing well and what's not a perfect environment for that business, if that business, we really believe will deliver mid-teens through the cycle.”

In context

“be better, you'll see better performance. But I feel very, very good about the strategic decisions that we're making, the execution that we're working on, the progress we're making in asset and wealth management and we as a leadership team see a clear path to improvement in a better operating environment. Mike Mayo: And can you remind us -- so you're taking this pain the charges and you're looking to get to mid-teens ROE in the medium term. How do you define medium term? And what should we be looking at along the way because to the extent that this accelerates this transition. It'd be nice to see some metrics externally for that progress? David Solomon: Well, we're going to make progress, Mike, over the next couple of years, the next 2 to 3 years, we're going to make meaningful progress. But I'd just highlight, when you go back to our core business, banking and markets, where we are a leader and I think given the mix of that business is performing well and what's not a perfect environment for that business, if that business, we really believe will deliver mid-teens through the cycle. The investment banking returns right now are at a very, very significant low but we do have a 14% ROE to date in Global Banking and Markets. So an improved environment should help us. The asset management journey is going to take and we were very clear about this in February, it's going to take 2 to 3 more years for us to continue to make progress on the journey with respect to the continued reduction of the balance sheet and the revenue growth and the margin uplift. And we're working on it. We see a clear line of sight and we're going to make progress. Operator: We'll go next to Brennan Hawken with UBS. Brennan Hawken: You spoke earlier to green shoots that you're seeing in the banking side given how important sponsors are to your banking franchise, curious to drill down and specifically”