We’ve moved with pace in advance of that in the fourth quarter to derisk as well. Regarding your question on First Boston — CS First Boston, CS First Boston, we are reshaping that business as we speak to be capital-light, balance sheet efficient, as well as rightsizing headcount, as Ulrich had mentioned as well. And so, to the extent that we have synergistic businesses, they, of course, will fit well in Credit Suisse First Boston, but I would use those criteria at the outset, which is looking at cost efficiency and balance sheet efficiency as two main criteria for which businesses would fall into SPG — into Credit Suisse First Boston. The second point I’d make is that with our macro and our markets businesses, we have rightsized those businesses.
We’ve refocused them and, of course, aligned them towards our Wealth Management and our Swiss Bank franchise, which is a key pillar of our strategy at the outset. We will, of course, reflect our restated financials once we set up the CRU, so you’ll have a better idea at that stage of the relative splits and what our new segmentation looks like. That should be in April. I hope that’s helpful.
Andrew Coombs: Yes, I look forward to seeing the new splits. Thank you, both.
Dixit Joshi: Thank you.
Operator: The next question comes from the line of Magdalena Stoklosa with Morgan Stanley. Please go ahead.
Magdalena Stoklosa: Thank you very much, and good morning. I’m going to go back to the Wealth Management and to the flow situation. And I have to say, you’re commenting on a clear plan to restore Wealth through profitability. So, could we just hear what’s in your business plan flow-wise for 2023? But like broader, from a customer business perspective, when we look at kind of flows, deposits, custody assets, loans, how do you see those developing, let’s just say, over the next 12 months on top of what you told us on APAC and kind of year-to-date numbers? So that’s question number one. And question number two really is about the mix of your cost savings in 2023 as well. You’ve given us kind of very — you’ve given us points on a slide, I think, 11 — let me just go back there, on Slide 11 from the perspective what your priorities are.
But could you give us a sense which of those points that you have detailed there actually have the biggest impact on that cost base reduction so that at least we get a sense kind of where to look at? Because, for example, on the professional services side, you’ve already did a lot. On the contractor side kind of workforce mix, you’ve already done a lot in the fourth quarter. Thanks very much.
Ulrich Koerner: Magdalena, thanks for the question. So, I would say, with respect to your Wealth Management question, what is important, that’s why we gave these indications from January, the group overall, as I said, is positive on deposits; Wealth Management, globally, positive on deposits; Asia Pac, positive on deposits. And I’m reiterating that because, as you are fully aware of, the deposits are these kind of assets, so to say, which leave first and have the fungibility to reenter first. So — and I think that is important to bear in mind. As you immediately understand, Magdalena, we do not give you business plan figures. But you can assume that in the Wealth Management plan is a fair chunk of rewinning lost volumes, lost business with our clients.
