Banks don't want certain asset classes, and that's created opportunities for private equity, hedge funds, Silicon Valley. In this case I think he was referring to some of the European banks shedding assets, and the big buyers are probably not going to be big American banks. Someone like Blackstone may have a very good chance to buy those assets, leverage them, borrow up a little bit, and do something good there.

Businesses can be opaque. They are complex. You don't know how aircraft engines work either.

Our investment bank looks like it does because its customers like our expansive network and want to do equity, debt, M&A, custody, move money, deposit money, et cetera.

Unraveling the euro is a terrible thing. This is a 50-year endeavor to get this continent together and that's a wonderful endeavor.

We're not fair weather friends. We've been in places for a long, long time.

We see very broad-based, moderate, growth. Most of the sectors are quite strong. I don't see any major potholes, and I believe [the economy] is strengthening.

Because of that [Brexit], you're going to have slow growth and, unfortunately, while there may not be huge volatility, there will be volatility.