Text extracted via OCR from the original document. May contain errors from the scanning process.
Cc: Diana Canter
Kimberly Hart
Funda Bozkurt
Zbynek Kozelsky
Classification: For internal use only
To be clear, I have not asked if we can adopt this account to KCP, I'm
forwarding a request from the Banker to have this account covered by KCP as
the POA on the account IS a KCP adopted account and is covered by the KCP
team. The Banker thinks that for continuity the POA on this account would
prefer to have one desk to trade with (KCP). I know that the KCP desk
currently covers accounts that are not KCP adopted, hence the request from
the Banker to maintain coverage on one desk. If answer is no, I am
perfectly fine with it, and will assign ISG coverage to the new account.
Thank you
{https://brandportal.intranet.db.com/img/modules/logo.gif}
Coley Jellinghaus
Managing Director I Head of Investment Solutions Group
Wealth Management Americas
DB Securities Inc.
345 Park Avenue, 10154-0004 New York, NY, USA
Tel.
Email
EFTA01399477
Cc: Diana Canter
niler
iart
>; Funda Bozkurt
Ki3
; i
Coley,
May be I don't understand the full picture as described to me.
As I recall, account in question is a trust for benefit of employees, has
value/net worth of less than $5 mil, and the authorized officer will be
authorized by a POA to execute syndicate trades. This POA happens to be a
KCP client.
How can we qualify this account as a KCP client (Non advised, 50 mil-2111
qualification)?
Would appreciate if you can setup a call between you, me, Kim, Funda and may
be Igor/Jeff Roth.
Thank you.
Kind regards!
Zia Memon,
Managing Director/BSO.
EFTA01399478
, cell
On Oct 9, 2018, at 5:28 PM, Coley Jellinghaus
wrote:
Classification: Confidential
Hello — Just following up on this. The client has completed the new account
paperwork and we are getting ready to open the account (for which we need to
assign a CA..). Again, the client's accounts are covered by KCP, but this
new account, as described below, is not the same set-up as his other
accounts and by definition is not a KCP "type" account. Can the KCP
continue to cover him for this account or will we need to assign an ISG ca?
Thank you
From Stew:
"This a trust with several of Epstein's employees as beneficiaries, and him
as grantor. He will have trading authority along with the trustee, but the
assets are no longer his since the trust is irrevocable. So Zia felt we
could not combine with his other assets to get to the KCP standard. Having
said that, it's not clear to me that a client needs to be $50mm net worth to
trade cash equities and bonds in KCP. Presumably not all of the IPO
business meets that threshold, but you would know better. Either way, need
to decide and get an account open as soon as we can at this point."
<image001.gif>
Coley Jellinghaus
Managing Director I Head of Investment Solutions Group
Wealth Management Americas
DB Securities Inc.
345 Park Avenue, 10154-0004 New York, NY, USA
EFTA01399479
Tel.
Email
Cc: Diana Canter
Coley,
I haven't forgotten this one. I need to discuss further with Kim and others.
We just closed a CCT (compliance testing) action item, where they had
questioned
KCP coverage of clients which didn't meet KCP standards, including Josh's
syndicate accounts. Kim is back from London tomorrow, so discussion may
occur early next week.
Everyone needs to re-evaluate the risk of having an account covered by KCP
team without KCP qualifying paperwork, 2110/50 million and big-brother
letter etc.
Also, this will be an irrevocable employee benefit trust, trading cash
equities and IPOs, and we have been advised that the trust is valued around
$5 million.
Thank you.
<image002.png>
Kind Regards
EFTA01399480
Zia Memon
Managing Director I Head, WM-US Business Supervisory Office
Deutsche Bank Securities Inc.
Wealth Management Americas
345 Park Avenue, 10154-0004 New York, NY, USA
Tel.
Fax
Mobile
Email
<image003.png>
Cc: Diana Canter
Hi Zia - Ziggy and Stew Oldfield brought me up to speed on this quickly last
week (Stew recaps the details below) and the client has been waiting to open
the account for some time. From my perspective it seems inefficient for the
new account being opened to be covered by ISG when all the other account,
albeit with distinct beneficial owners, are covered by KCP. My
understanding is that not every account that currently trades in KCP is KCP
adopted. Can we get comfortable with this new account being covered by the
same KCP coverage team? Coley
Sent with BlackBerry Work
(www.blackberry.com)
EFTA01399481
Cc: Bradley Gillin ‹
>
Yes. This a trust with several of Epstein's employees as beneficiaries, and
him as grantor. He will have trading authority along with the trustee, but
the assets are no longer his since the trust is irrevocable. So Zia felt we
could not combine with his other assets to get to the KCP standard. Having
said that, it's not clear to me that a client needs to be $50mm net worth to
trade cash equities and bonds in KCP. Presumably not all of the IPO
business meets that threshold, but you would know better. Either way, need
to decide and get an account open as soon as we can at this point.
Thanks
Cc: Bradley Gillin
Is this the one we discussed with Ziggy that currently has KCP coverage for
some related accounts?
Sent with BlackBerry Work
(www.blackberry.com)
EFTA01399482
Cc: Bradley Gitlin e
>
What's your current thinking on this? Need to get something opened for
him. He asked a month ago
>
any update on when account may be opened?
please advise
thank you
Richard Kahn
HBRK Associates Inc.
575 Lexington Avenue 4th Floor
New York, NY 10022
tel
fax
cell
On Sep 18, 2018, at 3:12 PM, Stewart Oldfield e
>
wrote:
EFTA01399483
Who will have trading authority?
Thanks
<image001.png>
Stewart Oldfield, CFA, CAIA
Director
Deutsche Bank Trust Company Americas
Deutsche Bank Wealth Management
345 Park Avenue, New York, NY 10154
Tel.
Mobile
Email
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