“Management and other fees increased 3% sequentially to a record $2.6 billion for the quarter and $7.6 billion for the year to-date well on the way to achieving our $10 billion annual target for 2024.”

In context

“ending. Equities net revenues were $3.5 billion dollars in the quarter up 18% versus the prior year. Equities intermediation revenues were $2.2 billion, up 29% year over year, primarily driven by strong performance across derivatives and cash products. Equities financing revenues of $1.3 billion rose versus the prior year amid higher average balances. Across FIC and equities financing revenues were a record $6.6 billion for the year to date. A direct result of the successful execution on our strategic priority to improve the durability of our revenue base. Moving to Asset and Wealth Management on Page 5. Revenues of $3.8 billion were up 16% year over year. Our more durable management and other fees and private banking and lending revenues reached a new record this quarter of $3.4 billion. Management and other fees increased 3% sequentially to a record $2.6 billion for the quarter and $7.6 billion for the year to-date well on the way to achieving our $10 billion annual target for 2024. Private banking and lending revenues rose sequentially to 756 million. We are seeing positive momentum in this business, and we remain focused on increasing lending penetration and expanding our loan product offerings. Incentive fees for the quarter were $85 million. We continue to expect to reach our annual target of $1 billion over the medium term, supported by approximately $4 billion of unrecognized incentive fees as of the last quarter. Equity and debt investments revenues totaled $294 million reflecting NII in our debt portfolio and markups in our public equity portfolio. For the year to date, we generated one and a half billion in combined equity and debt investments revenues. Now moving to Page 6. Total assets under supervision ended the quarter at a record of $3.1 trillion, bolst”