GK wanting us to be a category 2 bank is the real reason for RTO and offshoring more and more.
Buildings give us more assets and offshoring more of a global footprint.
Research to learn more.
Not about collaboration, which we already knew.
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The bank isn't going to become a Category 2 bank without an expansion or a merger/acquisition. The cost cutting and efficiency ratio manipulation only helps with the latter. The former is not happening because the bank doesn't even attempt to expand its footprint outside of the states it currently operates in. And the management committee is gambling too much on saving money with offshoring that Cards, Mortgage and Wealth Management won't be robust enough to support the services of a Category 2. They cut Mortgage to the bone and Cards is suffering from the substandard work they're getting from teams majority staffed with offshore workers. And WM can't keep talent long enough to build lasting relationships. RMs leaving with clients is the reason why we're forced to accept those confidentiality forms.
RTO is about propping up the commercial real estate it holds mortgages on. If those properties' vacancy rates increase the bank will suffer losses due to defaults or loan renegotiations.
You can learn more about bank categorization here: https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-252/subpart-A/section-252.5