From: Paul Morris Sent: 2/3/2014 4:45:06 PM To: Nay Gupta CC: Tazia Smith I j; Vinit Sahni Subject: Re: percentages get a read from your team [C) Classification: Confidential Watford Re looks like a new hedge fund with bermuda reinsurance wrapper started by Highbridge/Arch capital, don't know what type guess credit or long/short i have not talked with him about energy renissance but likely liquid equities across producers or secondary beneficiaries (e.g. auto, chemicals), )P has created a basket recently focused on this theme Paul Morris Managing Director Deutsche Bank Private Bank 345 Park Avenue, 27th Floor New York NY 10154 Office: Cell: From: Nav Gupta/db/dbcom@DBEMEA To: Tazia Smith/db/dbcomOdbamericas, cc: vinit Sahni/db/dbcom@dbemea, Paul Morris/db/dbcom@dbamericas Date: 02/03/2014 04:37 PM Subject: Re: percentages get a read from your team [C] what risk is in energy renaissance theme and watford re. Thx On 3 Feb 2014, at 20:58, "Tazia Smith" < > wrote: Classification: Confidential Sounds good. I'll send through our initial suggestions, Nav, and then you can opine on top of that, that'd be great. <0.220.gif> Tazia smith Director I Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset & wealth management 345 Park Avenue, 26th Floor New York NY 10154 Tel. CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 109398 CONFIDENTIAL SDNY_GM_00255582 EFTA01452407