This is Exchanges to Goldman Sachs. I'm Jake Seward, global head of corporate communications here at the firm.

We're very lucky to be joined today by David Solomon, who is president and co-co-co-O-O-O-O-O-O-O-O-O-O-L alongside Harvey Schwartz.

David previously held a number of leadership positions in our investment bank most recently as Global Cohead of that division.

David, thanks for joining us today.

Glad to be here, Jake.

David, we're living in what those of us in finance might call a content-rich environment.

Given all that's going on, when you talk to clients right now, what are the areas they're most focused on as it relates to their businesses?

You know, I think at a high level, it falls into a handful of buckets.

There's a lot of focus on the political environment, in particular the administration here in the U.S.

There's a lot of focus on geopolitics more broadly. Obviously the situation in

North Korea, but it's broader than that. Geopolitically the world seems a little

bit more fragile over the last six to 12 months than it had been the previous 1224 months.

There's an enormous amount of discussion about technology creating change in

disruption in business, enormous amount of discussion about that, and we've been in an environment where people are obviously focused on

monetary policy but there's been this massive monetary policy all over the

world keeping rates very low money very inexpensive and markets are going

up and markets are going up with very very low volatility and things feel very correlated

in one direction it feels like people are moving out the risk

curve. And so all of these are topics as I've been getting around the world clients want to

engage in. And they all have different implications. People are very, very focused on whether or

not we can have some significant policy change here in the

U.S. particularly tax policy. A lot of focus on that. There's a lot of focus on whether or not

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