If you look at the banking business over many years, it's always been a huge user of technology. This has been going on my whole life, that people have been adding technology, digitizing services.

All our clients know that we're there, we're steady, we do a good job, we earn a fair return for ourselves, which I think is critical.

Usually, something that is fairly expected is already factored in. I also think that you have to think that America is raising rates because the economy is getting stronger.

I think immigration has been one of the vital things about the growth of America. I'm the product of grandparents who all immigrated from Greece. I hope eventually we have proper immigration.

Our global corporate investment bank competes with Goldman Sachs, Citibank, and a bunch of other banks that are in those businesses. We may have slightly different products or services, but so what? That's always been true in American business.

And if you're going to be a leader, you know what I ask myself? Would I want to work for you in this job? Would I let my children work for you? Would I give you this job if I wasn't there to provide oversight? If you went to run another company, would I, as an investor, invest in that company?

If you talk to anyone involved in business - forget banks and big business - talk to small businesses - do it yourself, don't ask me - they'll tell you it's crippling. Small-business formation is the lowest it has ever been in a recovery, and it's really for two reasons. One is regulations and the second is access to capital for people starting new businesses.