EFTA01460814

345 Park Avenue New York, NY. 10154 Phone: Mobil - Emai From: Cheryl Paller To: James Layden Cc: Caroline Kitidis; Chip Packard; Haig Ariyan; Michael-) Davis Sent: Tue Sep 16 18:44:46 2014 Subject: Re: Update [C] Classification: Confidential Jim, I do appreciate the efforts both you and Haig make to support your colleagues. Please know that, as with everything in life, there is more than a singular perspective on how this all played out. Marc called me to enter his request for allocation unsolicited. When there was no determination by management to change ownership by 10 this morning, I turned this over to the designated KCP representatives, Tazia and Vahe, to handle the trade for your benefit. I had abdicated any ownership, had instructed them to move forward to get this request executed for the client in your account, and was not involved as can be clearly seen by the email chains and conversations. Please check with Corinne and your other associates. Marc called me again after Liz called him at which time I told him the trade could be handled equally well by Liz and not to worry about our politics. I told him that, instead of it being a problem, this was playing to his benefit as he had two advocates for his allocation. I still believe the larger question is who should handle the ongoing relationship and as stated earlier, I will leave it to my advocates amongst you all to determine that course. Kind regards, Cheryl Paller Cheryl Paller Managing Director Deutsche Bank National TRW Company Asset and Wealth Management 2000 Avenue of the Stars. 9N Los Angeles. CA. 90067 Tel. +1(310)788-6166 Fax +1 Mobil Email From. James Laydentdbfdbcorn Tu• Cheryl Palleildb/dbcom@DBArnencas. Cc. tchael-J Davisidb/dbcom©DBAMERICAS Date 09/16.42014 03:04 PM Subject . Re: Update ICI CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 122365 CONFIDENTIAL SDNY_GM_00268549 EFTA01460814