“The most important thing that's happening is the card continues to improve and its performance and the card is driving towards profitability.”

In context

“. Good morning. David Solomon: Good morning, Betsy. Betsy Graseck: Hi. I did just want to follow up on one thing here regarding the point you were making on Platform Solutions. It's a drag right now, 75 bps to 100 bps on ROE, but '25 and '26, that will improve. So could you just step us through -- I mean, we know what your plans are for Platform Solutions. But I'm wondering what's happening in '25 and '26 that will drive the reduction of the drag in this year and next, if you could speak through that. David Solomon: Yeah. At a high level, Betsy, we're obviously -- the primary thing is in Platform Solutions is the Apple partnership. As you know, we have a contract with Apple to run that partnership until 2030, although, there's some possibility that it won't continue until that time frame. The most important thing that's happening is the card continues to improve and its performance and the card is driving towards profitability. And so the improvement in the profitability of the card has an impact on the short-term drag. Ultimately, whether it's in the medium-term or through the life of the contract, that's not going to be a long-term business for the firm, and that will ultimately allow us to exit and return capital, but I'm really not in a position to comment any more specifically other than the direction of travel that you're aware of. Betsy Graseck: Okay. Great. And then separately on the changes that were discussed with regard to how you're structuring the financing team that's within investment banking, if I got it right. Could you just help us understand, how does this management structuring change the revenue growth outlook that you're looking for? Like, why did this deliver better growth? David Solomon:”