“We continue to expect our 2024 tax rate to be approximately 23%, which similar to prior years will exhibit some quarter to quarter volatility.”

In context

“in this business. We remain focused on customization, private credit and our global distribution. Parametric, in particular, has allowed us to deliver the integrated firm, evidenced by the ongoing demand from our wealth management client base. Turning to the balance sheet. Total spot assets were $1.2 trillion. Our standardized CET1 ratio was 15.1%, down 14 basis points from the prior quarter. Standardized RWAs increased quarter-over-quarter as we actively supported our clients in more constructive markets. We continue to deliver our commitment to return capital to our shareholders, buying back $1 billion of common stock during the quarter. Our tax rate was 21% for the quarter. The vast majority of share based award conversion takes place in the first quarter resulting in a lower tax rate. We continue to expect our 2024 tax rate to be approximately 23%, which similar to prior years will exhibit some quarter to quarter volatility. The first quarter is clear evidence that as the backdrop improves, our franchise is strategically positioned to capture upside as it was designed to do. With client assets at a record of $7 trillion across Wealth and Investment Management, we are on strong footing. Our Wealth Management business continues to focus on growth as well as supporting our clients with advice in delivering our differentiated offering, and our institutional franchise is supported by our scale and our global footprint. This combined with the build of the investment banking pipelines and market confidence provides us with momentum to deliver on our objectives over time. With that, we will now open the line up to questions. Operator: [Operator Instructions] We'll move to our first question from Glenn Schorr with Eve”