HOPEFULLY END
CONSTRUCTIVE SOLUTION.
IT WOULD BE TOO BAD.
THE ECONOMY IS DOING SO WELL
ACROSS THE THREE REGIONS.
>> YOU MUST SEE THE VOLATILITY
END OF THE TRADING DESK.
ACCORDING TO THE WALL STREET
JOURNAL ANALYSTS ARE PROJECTING
THE BIGGEST US BANKS WILL SEE A
SOLID BUMP IN FIRST-QUARTER
REVENUE.
WHAT DO YOU LOOK FOR IN 2018 TO
DRIVE THE BUSINESS.
>> VOLATILITY IS GOOD FOR BANKS
BECAUSE CLIENTS ARE MORE ACTIVE
LOOKING FOR MORE SOLUTIONS AND
TRADING MORE AND IT IS
CONTAINED.
WHAT I SEE ON WORD.
I BELIEVE THIS ECONOMY HAS GONE
THROUGH A CYCLE.
THE HOTSPOT FOR INVESTMENTS IN
18 IN 19 IS GOING TO BE EUROPE.
MARIA: PEOPLE I SHIFTING MONEY
TO EUROPE?
>> WAIT UNTIL YOU SEE LIQUID
EQUITIES, IN MY POSITION
BETWEEN MAIN STREET, RETAIL,
WALL STREET, INTERNATIONAL
MARKETS, I HAVE SEEN
SIGNIFICANT OUTFLOWS AWAY FROM
THE US MARKET AND ASIAN MARKET
INTO EUROPE.
MARIA: AND THE BACKDROP, FOR
THE FIRST TIME IN A LONG TIME,
TO A HALF% GROWTH IN THE EURO
ZONE.
>> WHICH IS A CONSEQUENCE OF
THE CENTRAL BANK THAT THE FED
HAS DONE FOR MANY YEARS
SUPPORTING THE ECONOMY, THE
BUSINESSES AND PROVIDING MORE
STIMULUS AND LIQUIDITY WHEN
NEEDED.
MARIA: THE FEDERAL RESERVE IS
EXPECTED TO RAISE RATES 4 TIMES
THIS YEAR.
DOES THAT SOUND RIGHT TO YOU.
THERE WAS SPECULATION THEY WERE
TALKING ABOUT 5 RATE HEIGHTS AS
WELL.
IT SEEMS A LITTLE EXCESSIVE.
>> I SEE IT THE SAME WAY YOU
DO.
IT IS VERY CONSISTENT.
THE FED HAS BEEN CONSISTENT AND
THEY WILL BE HIKING.
I WISH I HAD A CRYSTAL BALL.
I DON'T KNOW.
HOWEVER, WHAT IS FOR SURE, THIS
ECONOMY IS DOING BETTER,
INFLATION TRENDS ARE THERE.
THE 2% BENCHMARK INFLATION IS
REASSURING FOR THE MARKET
BECAUSE THIS IS SOMETHING THAT
IS EXPECTED.
>> WHAT DO YOU SEE FROM THE
RETAIL INVESTOR OR USER TODAY,
TALK ABOUT THE BANK OF THE
WEST, THE REGIONAL COMPANY
BASED OUT OF CALIFORNIA IN
TERMS OF RETAIL CUSTOMER TODAY
AND WHAT IS DRIVING THEIR
BUSINESS.
>> THANK YOU FOR MENTIONING
THAT.
IT HAS BEEN A GOOD LAST 5
YEARS, WE ARE DIVERSIFIED WITH
RETAIL AND WE HAVE HOME SALE,
IT IS THE LARGEST BALANCE SHEET
AFTER FRIENDS MEANING IT IS
STRATEGIC AND WE HAVE 16,000
PEOPLE IN THE US AND THEY ARE
COVERING 2.5 MILLION CUSTOMERS
BROAD SCOPE OF PRODUCTS OF
SAVINGS, LANDING, MORTGAGES,
ENTREPRENEURS AND BUSINESSES.
>> THE REGULATORY CHANGES
IMPACT TO THE BANK OF THE WEST.
WE TALK ABOUT THE REGULATORY
ENVIRONMENT LOOSENING A LOT
THIS YEAR.
DO YOU WANT TO SEE REGULATION
CHANGE WHEN YOU LOOK AT
REGULATIONS IN THE US VERSUS
EUROPEAN REGULATORS.
>> CONVERGENCE WILL ALWAYS BE A
POSITIVE FOR INTERNATIONAL
BANKS.
FOR THE PRACTICE IN THE UNITED
STATES INCLUDING BANKERS IN THE
WEST, WE ARE LIQUID, THE BANK
WAS IN EXISTENCE FOR 160 YEARS
AND THE BUSINESSES I JUST
MENTIONED, THERE HAS BEEN ONE
THAT IS THRIVING, THE WEALTH
MANAGEMENT BUSINESS GROWING
FAST AND SERVING THE WEST
COAST, NOW THE EAST COAST.
I'M DELIGHTED TO BE WITH YOU TO
ANNOUNCE WE ARE A FEW DAYS FROM
OPENING A WEALTH MANAGEMENT
OFFICE.
MARIA: THIS IS A DIFFERENT
WEALTH MANAGEMENT BUSINESS THEN
THE LARGER BNP.
RETAIL WEALTH MANAGEMENT.
>> RETAIL WEALTH MANAGEMENT AND
IT HAS BEEN A VERY ATTRACTIVE
PROPOSITION FOR US, LOOKING
FORWARD TO CONTINUING TO
EXPAND.
ON THE REGULATION SIDE THE
PLATFORM WELL-BALANCED TO YOUR
PREVIOUS QUESTION, LIQUID AND
DEVELOPED AN ORGANIC BUSINESS
MODEL FITTING THE REGULATION