From: Martin Zeman Sent: 10/23/2017 10:31:17 AM To: Stewart Oldtield I Subject: RE: Call with our Muni desk - [I] Classification: For internal use only I am From: Stewart Oldfield Sent: Monday, October 23, 2017 10:22 AM To: Martin Zeman < Subject: RE: Call with our Muni desk - [II You around today? From: Martin Zeman Sent: Thursday, October 19, 2017 11:04 AM To: Stewart Oldfield < Subject: RE: Call with our Muni desk - I apologize Stewart, didn't realize this. I will unwind this. Let's talk when you're back. From: Stewart Oldficld < > Date: Thursday. Oct 19 2017 10:51 To: Martin Zeman Subject: Re: Call with our Muni desk - [II Classification: For Internal Use Only Please don't have this call. Deposits are strategically important to us. Jeffrey also has a specific tax set up that makes munis less attractive. We should have discussed this first. Stewart Oldfield, CFA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park Avenue, New York, NY 10154 Email: Securities offered through Deutsche Bank Securities Inc. From: Martin Zeman Sent: Thursday, October 19 2017 06:38 AM To: Paul Barrett Cc: Stewart Oldfield CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0091646 CONFIDENTIAL SDNY_GM_00237830 EFTA01388207