Global Economic ConditionsGlobal economic slowdown, prolonged high market interest rates, noticeable contraction in market liquidity, and a substantial correction in global asset valuation.
Investment Management PerformanceInvestment management margins and returns remain weak, with margins at 18% and returns at 7%.
Net Interest IncomeWM net interest income (NII) was down 9% year-over-year and 1% quarter-over-quarter, in line with guidance of a modest quarterly decline.