Mr. Gerry Cross:

To add to what Ms McEvoy said, it is fair to say that because of the way the funds sector is organised globally and the fact that it is very international and already very diversified globally and geographically, it is quite different from other sectors. The advent of a range of firms relocating activities to Ireland in the context of Brexit, some of which we are familiar with and some of which are new, poses a challenge that we need to address and be ready for. My sense within the bank is that we have planned well for it and have scoped what is expected well. In our planning for 2017 and ongoing planning, we have foreseen what was expected and have made recruitment and contingency decisions which we have then implemented.

In terms of resourcing, we have kept well apace of the challenge that Brexit is posing in that respect. It means we must think about and respond to new activities, but that is a challenge with which we are comfortable and about which we are confident. We have a great wealth of experience within the organisation and are able to deploy resources across different sectors so one of the benefits of the one bank approach, which is very much at the heart of how we operate now, is that we can use resources from our banking experience in the context of asset management and, therefore, when one is looking at broker or dealer activities, it allows both of those perspectives to be brought together. It is a challenge because these are new activities but it is a challenge for which we have planned well and are in good shape in respect of and things are going as they should.