David Solomon

And we will use we may have less in the short run of those people.

But I think the opportunity is to have more people doing more productive things with clients that can't be done simply by the technology.

And so, you know, there'll be the shifting dynamic.

You know, if you look back at the firm 25 years ago when I joined and you looked at the productivity, when you look at people and revenues, the firm is much more productive today than it was 25 years ago.

I bet 10 years from now, it'll be much more productive than it is today.

But people, relationships, connectivity.

They're still hugely important in this.

And the question is, how do we shift the way people work and therefore free up more capacity to touch more clients, build more relationships, broaden the footprint?

It's not as black and white as people in, people out.

So I do think the pace of change is quick.

I think you will see some constraining of some of the entry-level jobs in these professional services platforms.

It'll be more amplified in certain businesses rather than others.

But I don't think it's going to be as disruptive in terms of the need for really smart people to work collaboratively to serve clients as some of the narrative around it.

But we're very focused on it.

We're giving our people the tools at an accelerated pace to

We're reimagining processes very quickly.

And the reason I'm excited about it is not because it takes people out.

It frees up people to allow us to invest in other parts of the business that really do scale with people.

You know, for example, ultra high net worth wealth really scales with people.

And so, you know, at the end of the day, we've been constrained in some of the places we can invest.