“And I would just say, as we move into 2024, we continue to focus on driving growth across the strategic channels and be thoughtful about our overall funding mix.”

In context

“base played out versus your expectations? And do you have any plans to adjust your thoughts around, you know, earlier you talked about wanting to be in the top decile of payouts for that product. Is that still the goal or has that adjusted as the platform has matured? Denis Coleman: Sure, Brennan, and thank you for that question. Our Marcus, deposit platform, has been a real strategic advantage to us in terms of overall firm-wide funding. We did set out a strategy to set our pricing at the higher-end of the pricing envelope to maintain, sustain, and grow our balances across that platform. We haven't adjusted our strategy at this point. We saw good growth across our various strategic deposit funding channels last year, not just Marcus. Overall, deposits are up over $40 billion on the year. And I would just say, as we move into 2024, we continue to focus on driving growth across the strategic channels and be thoughtful about our overall funding mix. Operator: Thank you. We'll go next to Mike Mayo with Wells Fargo Securities. Mike Mayo: Hey, David. You started off the call saying that 2023 was the year of execution and that's the year when you had an ROE of 8%, and if we throw in some of the charges, it's 10%, and that's not really executing at your 15% or so desired return. So can you give us a kind of waterfall chart in words on how you get from that core 10% ROE to 15%, and if you could define medium-term? David Solomon: Sure. So I appreciate the question, Mike, and obviously, we're very focused on it. It wasn't an A environment for our core business. In fact, I don't even think it was a B environment. When investment banking is operating at low levels, that is an impact overall. I do think that it's important to look at our core b”