All, Marc Schwartz, head of the Broad Family Office, called me a bit ago as a result of a phone call from PCS (see below). Liz had raised concerns to him about our internal politics. He asked me if it was "OK to have called me for the trade". You see, I had always told him that we could place the trade in the existing account and never had shared that it was a PCS account that would need to be moved, who would get "credit", or any of these internal battles. Prior to Liz's call, he just assumed we were one happy family. I reassured him that he need not concern himself with our internal politics and that we are all operating as a cohesive delivery model to serve his needs. I do not believe we should be air our laundry with our clients, especially burgeoning ones where significant new business might follow. I believe our new colleague, Lee Hutter, knows Marc well and can assist in resolving these issues within the month. I am happy to let it lie until then. I am sorry we could not reach an amicable solution before the client was brought in to the fray. Kind regards, Cheryl Paller Cheryl Paller Managing Director Deutsche Bank National Trust Company Asset and Weal" Management 2003 Avenue of the Stars, 9N Los A eles, CA. 90067 Tel. Fax Mobil Email Forwarded by Cheryl on 09/1&•2014 02:11 PM -- From: "Schwartz. Marc" To: Cheryl Palter Date: 09162014 11 52 AM Subject: Re Do you have everything you need from us? (CI Are you avail for a quick call regarding the below? On Sep 16, 2014, at 10:51 AM, "Cheryl Paller" wrote: Classification: Confidential Marc, I think we are all good. Tazia will be in touch to firm up any loose ends. I very much appreciate how our relationship has developed and your placing the trade with me. I have some follow up items to discuss and will do so after we get the results today. Kind regards, Cheryl Paller CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 122346 CONFIDENTIAL SDNY_GM_00268530 EFTA01460802