I mean, I want to be careful to read too much into three weeks of volatility. It's been three pretty volatile weeks, but it remains to be seen how things will unfold from here. Nonetheless, we're being very thoughtful about every element of discretionary expenses we have and think about it from everything from travel and entertainment just slowing down hiring, all the things we can do to just really slow the growth of our expense base.

Apr 22, 2025 / receipt, needs a key / Allison, CFO | earnings call 2025-04-22 | transcript 6f534660-56c0-4283-bdab-71b8d00d4162 | chars 37797-38236 | segment 37

There are things we can be doing immediately, like slowing down hiring and slowing down some of our plans there, slowing down things like internal travel.

Apr 22, 2025 / receipt, needs a key / Allison, CFO | earnings call 2025-04-22 | transcript 6f534660-56c0-4283-bdab-71b8d00d4162 | chars 55084-55238 | segment 55

Regarding operating expenses for 2025, we will continue our disciplined expense management. We expect a slight uptick in expenses driven by the higher revenue levels that we are currently generating.

Jan 28, 2025 / receipt, needs a key / Allison Dukes, CFO | earnings call 2025-01-28 | transcript 7072775c-5bbf-4b50-8c71-754633f67fe0 | chars 18743-18942 | segment 18

I think notably, we're working very hard. I think we've demonstrated that strength around expense management and really demonstrating expense discipline and controlling our expenses so that we can generate that positive operating leverage with all incremental growth on the top line.

Oct 22, 2024 / receipt, needs a key / Andrew, other | earnings call 2024-10-22 | transcript 6b7cd316-45d6-4913-9871-bd7fcfc52b32 | chars 33039-33322 | segment 33

Travels in there, entertainment, client entertainment, all of it.

Jul 23, 2024 / receipt, needs a key / Allison, other | earnings call 2024-07-23 | transcript db90d80a-bcb9-43d2-8e5c-9d4479ad2099 | chars 28651-28716 | segment 29

Well, no, the shift was not a, if I understood your question correctly, it was not a way of saying, I mean, surely the shift was just reclassifying expenses where they better belonged. Things like travel and entertainment didn't belong in marketing. It belonged in GNA. So it was really trying to get expenses where they need to be.

Apr 23, 2024 / receipt, needs a key / Brennan Hawkin, analyst | earnings call 2024-04-23 | transcript bbd7e05e-de31-4eb6-8f2f-8b24883498b7 | chars 34414-34746 | segment 35

We maintain an extremely disciplined approach to expense management and are focusing hiring and investment in the key capability areas that are driving our growth. As Marty and I have discussed previously, optimizing resource allocation to efficiently drive growth has and will continue to be a top priority for the organization.

Apr 25, 2023 / receipt, needs a key / Allison Dukes, CFO | earnings call 2023-04-25 | transcript 2fcdd0db-423d-4342-b59e-aa32cf468037 | chars 19365-19694 | segment 19

We will be extremely disciplined in expense management and resource allocation while ensuring that we are meeting the needs of our clients and positioning the firm for long-term growth.

Jan 24, 2023 / receipt, needs a key / Alison Dukes, CFO | earnings call 2023-01-24 | transcript 5d496085-c0ef-4b19-acc1-70071a9e92cd | chars 20803-20988 | segment 20

As market volatility continues, the need to maintain a disciplined approach to expense management is paramount. We are reexamining all aspects of our discretionary spending relative to the environment we are in, and we will be focusing on near-term hiring on critical growth initiatives.

Oct 25, 2022 / receipt, needs a key / Marty Flanagan, CEO | earnings call 2022-10-25 | transcript 1aea210b-1394-4295-87f4-9ea377c45007 | chars 7490-7777 | segment 7

Our focus will now shift to ongoing expense management discipline, and we will be deliberate as a management team in continuing to scale our business platform global business platform, and investment key areas of growth.

Jul 26, 2022 / receipt, needs a key / Marty Flanagan, CEO | earnings call 2022-07-26 | transcript b0d03fec-2542-4be5-b4f7-2a8c7f49a825 | chars 5676-5896 | segment 5

As COVID restrictions eased across North America and Europe, we saw a meaningful return of client activity and business travel, which contributed to increases in marketing and G&A expenses that I will cover on the next slide. Interacting in person again with our clients and our colleagues around the globe is integral to our success as we transition to our new normal ways of working.

Jul 26, 2022 / receipt, needs a key / Allison Dukes, CFO | earnings call 2022-07-26 | transcript b0d03fec-2542-4be5-b4f7-2a8c7f49a825 | chars 12940-13325 | segment 13

We spent approximately $14 million on travel and entertainment this quarter. We look back to the second half of 2019, travel and entertainment expenses averaged around $25 million per quarter in that pre-COVID environment. Given our new normal ways of working and various measures we've put in place, we do not expect to see travel revert to pre-pandemic norms. We believe that our experience in the second quarter is approaching a new normal range for quarterly spending, and we expect to recognize at least $5 million in savings per quarter or $20 million annualized as compared to prior levels of activity.

Jul 26, 2022 / receipt, needs a key / Allison Dukes, CFO | earnings call 2022-07-26 | transcript b0d03fec-2542-4be5-b4f7-2a8c7f49a825 | chars 14186-14795 | segment 14

Early Career Intern - Global Security Department | {"ats": "workday", "city": "Houston", "state": "TX", "job_id": "/job/Houston-Texas/Early-Career-Intern---Global-Security-Department_R-15519", "remote

company_statement / Sep 14, 2026 / receipt

Early Career Intern - Digital Asset | {"ats": "workday", "city": "New York", "state": "NY", "job_id": "/job/New-York-New-York/Early-Career-Intern---Digital-Asset_R-15476", "remote": false, "category":

company_statement / Sep 14, 2026 / receipt

Early Career Intern - Investments (IFI High Yield) | {"ats": "workday", "city": "Atlanta", "state": "GA", "job_id": "/job/Atlanta-Georgia/Early-Career-Intern---Investments--IFI-High-Yield-_R-15096", "

company_statement / Sep 11, 2026 / receipt

Early Career Intern - Investor Engagement | {"ats": "workday", "city": "Atlanta", "state": "GA", "job_id": "/job/Atlanta-Georgia/Early-Career-Intern---Investor-Engagement_R-15050", "remote": false, "c

company_statement / Sep 11, 2026 / receipt

20th Annual Wall Street On-Campus Conference | {"ats": "workday", "city": "Atlanta", "state": "GA", "job_id": "/job/Atlanta-Georgia/XMLNAME-20th-Annual-Wall-Street-On-Campus-Conference_R-15516", "remo

company_statement / Sep 10, 2026 / receipt

Intern, Client Portfolio Management, Invesco Real Estate Korea (6 months) | {"ats": "workday", "city": null, "state": null, "job_id": "/job/Seoul-Seoul/Intern--Client-Portfolio-Management--Invesco-Rea

company_statement / Sep 8, 2026 / receipt

Early Career Intern - Corporate Functions Data Office | {"ats": "workday", "city": "Atlanta", "state": "GA", "job_id": "/job/Atlanta-Georgia/Early-Career-Intern---Corporate-Functions-Data-Office_R-153

company_statement / Sep 4, 2026 / receipt

Early Career Intern - Financial Planning & Analysis (FP&A) | {"ats": "workday", "city": "Atlanta", "state": "GA", "job_id": "/job/Atlanta-Georgia/Early-Career-Intern---Financial-Planning---Analysis--F

company_statement / Sep 3, 2026 / receipt

Early Career Intern - Strategy and Transformation | {"ats": "workday", "city": "Atlanta", "state": "GA", "job_id": "/job/Atlanta-Georgia/Early-Career-Intern---Strategy-and-Transformation_R-15374", "re

company_statement / Sep 3, 2026 / receipt

AUCC Virtual Info Session - Summer Internship Program | {"ats": "workday", "city": "Atlanta", "state": "GA", "job_id": "/job/Atlanta-Georgia/AUCC-Virtual-Info-Session---Summer-Internship-Program_R-152

company_statement / Sep 2, 2026 / receipt

Early Career Intern - Accounting | {"ats": "workday", "city": "Atlanta", "state": "GA", "job_id": "/job/Atlanta-Georgia/Early-Career-Intern---Accounting_R-15353", "remote": false, "category": "finance

company_statement / Sep 2, 2026 / receipt

Early Career Intern - Corporate Services, Travel and Events | {"ats": "workday", "city": "Atlanta", "state": "GA", "job_id": "/job/Atlanta-Georgia/Early-Career-Intern---Corporate-Services--Travel-and-

company_statement / Sep 2, 2026 / receipt