“And on the organic front, assuming the economy continues to grow, we think we've got a ton of opportunity to put top line up and continue to carry margin.”

In context

“owth that's been experienced in Asia, not just in Greater China. And of course, Japan, where, as you know, we have a special relationship with our partners, MUFG, who own 1/4 of the firm, but also the growth we've seen in the re-equitization of India and then, of course, the AI connectivity that exists in Korea and Taiwan. So too, we are now putting in incremental management strength in places like Germany and the core of Continental Europe, which is looking to reindustrialize given everything that's going on. So being a global firm and doing it the way we've done it, but also to stick -- it's why I reiterated very simply in the opening that we stick to our strategic knitting, which is that we raise manage and allocate capital for institutions and individuals and that we keep it that way. And on the organic front, assuming the economy continues to grow, we think we've got a ton of opportunity to put top line up and continue to carry margin. Operator: We'll move to our next question from Brennan Hawken with BMO Capital Markets. Brennan Hawken: I'd love to circle back on some of the comments 1 you made on cash. You spoke to on-chain. I don't know if you guys saw, but a competitor in the annual report, JPMorgan put out that they're planning to reduce some of the friction on brokerage cash. Is it right that in your comments around on-chain that that's the direction you guys are thinking of going as far as reducing that friction? And then relatedly, it's -- today is the 15th tax day tends to be a big event seasonally for you in your wealth business, how should we think about cash and then net new? And what the expected impact is on that this year? Sharon Yeshaya: Thanks so much, Brennan. So going first, just to cash, we continue”