EFTA Document EFTA01474153

Subject: RE: DB m Date: Wed, 05 Aug1001110 . h and client conference call details From: Melinda Roy To: Paul Morris Stewart Oldfield Cc: Jj Litchford <jj.litchford@db.com> Paul & Stewart, Attached is the approved introduction, research pieces, and distribution lists. Paul — I am not able to send an email from your address unless you give me access to your inbox, and even then it would still say "from Melinda Roy on behalf of Paul Morris." I have also asked Amanda to help out with a share drive for all of this material going forward. Please let me know if you need anything else! Melinda From: Paul Morris Sent: Monday, August 03, 2015 4:45 PM To: Melinda Roy; Stewart Oldfield; Jj Litchford Subject: RE: DB market outlook research and client conference call details Looks good Paul Morris Managing Director Deutsche Bank Private Bank Office= Cell: EFTA01474153 From: Melinda Roy Sent: Monday, August 03, 2015 4:34 PM To: Paul Morris; Stewart Oldfield; Jj Litchford Subject: RE: DB market outlook research and client conference call details I tweaked the CIO View ghostwritten email.. let me know what you think. From: Paul Morris Sent: Monday, August 03, 2015 2:38 PM To: Stewart Oldfield; Melinda Roy; Jj Litchford Subject: RE: DB market outlook research and client conference call details Send tax topics separately Paul Morris Managing Director Deutsche Bank Private Bank Offic Cell: From: Stewart Oldfield Sent: Monday, August 03, 2015 12:44 PM To: Melinda Roy; Jj Litchford Cc: Paul Morris Subject: RE: DB market outlook research and client conference call details EFTA01474154 Let's think about whether to include the tax topics. I think we should add the EURUSD piece above. And I think the intro email should be rewritten. If we are primarily focused on the new CIO view given lack of any other recent good pieces, perhaps we just outline what is in there. Please find attached the August issue of The CIO View which contain the views of Chief Investment Officer Asoka Wihrmann. His nine positions are: Central bankers warn against overheated markets U.S. central bank is most likely to hike rates in September. Bond yields are expected to recover slightly. Markets prove resilient to the Greek crisis Long-term confident on China. Agreement with Iran is likely to add pressure on oil prices. Trading ranges are key — buy at the bottom, sell "Be prepared for opportunities — at the top. some cash could be useful. Asset allocation of our balanced model portfolio for clients based in the Americas is as follows: fixed income, 41%; equities, 48%; alternatives, 10%; commodities, 1% Also in the August CIO View: Focus: The limits to monetary policy The big picture: Crises create opportunities Investment traffic lights: our tactical and strategic view Fixed - income market perspectives: Moving back to risk-on? Beware of the law of intended consequences with Joe Benevento EFTA01474155 and Joern Wasmund, Global Co-Heads of Fixed Income/Cash Equity-market perspectives: Gebhardt, Global Head of Equities Portfolio: Our asset-class Long or short, Larry Adam? Investment Officer for Wealth Healthier portfolio returns with Henning allocation in a balanced portfolio Six market views from our Chief Management in the Americas and Chief Investment Strategist for Deutsche AMW Americas Portfolio: Our view on non-traditional asset classes Long or short, Mark G. Roberts? Head of Real Estate Strategy and Research considers immediate and longer-term investment issues High-conviction ideas: Selected investment management clients' portfolios ideas to complement wealth- From: Melinda Roy Sent: Monday, August 03, 2015 11:59 AM To: Jj Litchford; Stewart Oldfield Cc: Paul Morris Subject: RE: DB market outlook research and client conference call details Email approved. Let me know if you need anything else! Melinda From: Jj Litchford Sent: Thursday, July 30, 2015 9:54 AM To: Stewart Oldfield Cc: Melinda Roy; Paul Morris Subject: Re: DB market outlook research and client conference call details EFTA01474156 Melinda I'll work on the CIO Intro. Why don't you put together he research and the brief synopses like we did last time. On Jul 30, 2015, at 9:48 AM, Stewart Oldfield c > wrote: Perfect. Would rather wait to send one quality email than jump the gun just get something out Thanks From: Melinda Roy Sent: Thursday, July 30, 2015 9:48 AM To: Stewart Oldfield; Jj Litchford Cc: Paul Morris Subject: RE: DB market outlook research and client conference call details Actually, might be better to wait until tomorrow so we can get all of the new weekly research (which comes out on Fridays), submit for approval tomorrow, and then send out Monday. Is that okay? From: Stewart Oldfield Sent: Thursday, July 30, 2015 9:39 AM To: Melinda Roy; Jj Litchford Cc: Paul Morris Subject: RE: DB market outlook research and client conference call details Perfect. Thanks EFTA01474157 From: Melinda Roy Sent: Thursday, July 30, 2015 9:38 AM To: Stewart Oldfield; Jj Litchford Cc: Paul Morris Subject: RE: DB market outlook research and client conference call details JJ and I can put the email together today and submit it for approval so you can send it out tomorrow or Monday. Does that work? From: Stewart Oldfield Sent: Thursday, July 30, 2015 9:34 AM To: Jj Litchford; Melinda Roy Cc: Paul Morris Subject: FW: DB market outlook research and client conference call details When should we do the next research email? From: Stewart Oldfield Sent: Monday, July 06, 2015 4:44 PM To: Stewart Oldfield Cc: Paul Morris Subject: DB market outlook research and client conference call details Please see the latest market outlook research pieces from DB attached. Larry Adam will host a client call next week to discuss this global outlook (details are below). I have also attached today's CIO Flash about the Greek referendum. There EFTA01474158 will likely be a few of these types of publications and calls on Greece as events unfold over the coming days and weeks. Given the potential volume of these, please let me know if you would like to continue to receive updates there. Please let me know if there is anything else we can do to be helpful. Thanks Please plan to join us on Thursday, July 16th, 2015 for a conference call presentation with Larry Adam, Chief Investment Officer, Wealth Management — Americas and Chief Investment Strategist, Deutsche Asset & Wealth Management — Americas. {Larry Adam 3015 Outlook invite.jpg} <image006.png> Deutsche Asset & Wealth Management — Conference Call Third Quarter 2015 Global Outlook with Larry Adam, Chief Investment Officer, Wealth Management — Americas and Chief Investment Strategist, Deutsche Asset & Wealth Management — Americas. Date: Thursday, July 16th, 2015 Time: 4:15 p.m. ET Conference details: The live presentation can be accessed by clicking here EFTA01474159 If audio is not available on your computer, please dial: U.S.: International: Conference code Replay details: Audio replay will be available four hours following the presentation U.S.: I International: Access Code: Please click here to replay the presentation Note: Prior to joining, to ensure a successful user experience test your connection. Connection Test: Click Here This invitation is not transferrable. "Deutsche Bank" means Deutsche Bank AG and its affiliated companies. Deutsche Asset & Wealth Management represents the asset management and wealth management activities conducted by Deutsche Bank AG or its subsidiaries. Banking and lending services are offered through Deutsche Bank Trust Company Americas, member FDIC, and other members of the Deutsche Bank Group. Brokerage services are offered through Deutsche Bank Securities Inc., a broker-dealer and registered investment adviser, which conducts investment banking and securities activities in the United States. Deutsche Bank Securities Inc. is a member of FINRA, NYSE and SIPC. 0 2015 Deutsche Bank AG. All rights reserved. 021600.063015 {cid:image009.png@OlD0B80A.EBF91DE0} EFTA01474160 Stewart Oldfield, CFA, CAIA Director Deutsche Deutsche 345 Park Tel. Mobi Email Bank Trust Company Americas Asset & Wealth Management Avenue, New York, NY 10154 blackberry {cid:image010.png@OlD0B80A.EBF91DE0} Securities offered through Deutsche Bank Securities Inc. EFTA01474161