When it came to the surprise Brexit vote, Wall Street banks (and traders) assumed the worst.
After the vote in June rocked markets, it is almost equally surprising to hear top Wall Street executives talk about the impact of the U.K.'s decision to quit the European Union in such rosy terms.
"Britain's decision to leave the European Union created uncertainty that is likely to persist for some time as the market grapples with the political and economic paths forward," Gorman said on the bank's earnings call. "We consider this outcome suboptimal but it did provide a live stress scenario."
It also sounds like it gave one Morgan Stanley business a short-term shot in the arm.
Currency trading "was aided by the volatility we saw from Brexit," the bank's CFO, Jonathan Pruzan, said on its earnings call.
At Wells Fargo, some executives are seeing silver linings in other businesses despite the turbulence created by the Brexit.
"Since Brexit and the related decrease in mortgage rates, we've seen refinance activity increase with our retail application volumes up approximately 15 percent to 20 percent in recent weeks and we currently expect origination volume to be somewhat higher in the third quarter compared with the second quarter," John Shrewsberry, Wells' finance chief, said on the bank's earnings call last Friday. He later added, "It's a great time to be a borrower."