Aiming for a Stronger Future?

Three years ago, at our first investor day ever, we laid out a plan to grow and strengthen our core businesses. We also pledged to run the firm more efficiently. And we did make some organizational changes last October to set us up for success. The feedback from investors has been very good since we made this announcement in October. Even with our tough performance in the fourth quarter, our stock price performance over that period of time has been good on a relative basis.