I think consolidation will move ahead and the first reason is that banks are flush with capital.

The results are very strong. We are particularly encouraged by the private banking results and especially by the net new money inflow, which was very strong.

Me-too deals will occur or at least be proposed but hopefully the market will prevail and tell managers such deals won't be executed.

We think consolidation will continue to be a big driver in the sector, both cross-border and for domestic deals.

After what we've seen from the U.S. investment banks, expectations are pretty high. If they don't produce the results, then that could be a problem.

Sir John is leaving a great legacy.

The vast majority of people in the Middle East feel more comfortable putting their money in Credit Suisse or UBS than in U.S. institutions.