“What's going on from a regulatory and a macro perspective gives us a higher level of confidence in our ability to deliver on that.”

In context

“r next question from Chris McGratty with KBW. Chris McGratty: Alright. Thanks for the question. In your prepared remarks, you talked a lot about building a sustainable revenue model, less volatility. If we kinda step back and think about the medium-term ROE that you've talked about, fifteen to seventeen percent, is that like, because part first part of the question, is that still the right level given what's going on in the environment and then the regulatory environment? And two, if that is the case, what's gonna be the driver? A numerator or denominator from here? Thank you. David Solomon: So first, Chris, welcome to the beat. I'm delighted to have you. You know, we have been talking about our ability to drive the firm to mid-teens ROEs. Slightly higher than what you just quoted, ROTEs. What's going on from a regulatory and a macro perspective gives us a higher level of confidence in our ability to deliver on that. You know, that's where we are. We're delivering on that. I think we feel very good that the combination of the growth we're driving in our asset wealth management business, which continues to improve margins, continues to improve returns, is helping us off the firm's overall returns and our global banking and markets business is obviously performing at a very, very high level. At this point in the cycle. That will move around through the cycle, but we're very confident in that business's ability to deliver mid-teen returns through the cycle. And so it's the continued execution and asset wealth management that's uplifting those returns. Dennis Coleman: And, Chris, I mean, just to follow-up on it, I'm sure you see this clearly, but the returns that we've been generating have been with the q”