Our focus is now on executing on the strategic updates we announced in the second quarter of 2018. We aim to improve returns to shareholders materially over time and to deploy our balance sheet and other resources to the highest return activities consistent with our client franchise and risk appetite. To achieve these primary objectives, we have defined four key strategic imperatives:
First, shift the bank to a more stable revenue and earnings profile.
Second, execute on clearly defined strategies in our Private & Commercial Bank (PCB) and our Asset Management (AM) businesses.
Third, reshape our Corporate & Investment Bank (CIB) towards a model which emphasizes our core strength in transaction banking, capital markets, financing and treasury solutions.
And fourth, reduce our costs and commit to an uncompromising cost culture.