<table><tr><th>From:</th><th>Gianni Serazzi</th></tr><tr><td>Sent:
To:</td><td>Thursday, March 5, 2015 4:35 PM
jeffrey E.</td></tr><tr><td>Subject:</td><td>Re: Statement</td></tr></table>

Totally agree, it's at the beginning of40=A0their annual report

http://www.edmond-de-rothschild.ch/presentation/documents/annual-re=orts/annual-report-2013.pdf
<http://www.edm=nd-de-rothschild.ch/presentation/documents/annual-reports/annual-report-20=3.pdf>
Page 7, M=ssage from Benjamin and Ariane de Rothschild

Someone should proof read at least the main message

Plenty of value to be added: unclear branding and =alue proposition communication from their website.

<=iv>With your insights and this platform the sky is the limit...

G</=iv>

On Thu,=Mar 5, 2015 at 5:23 PM, jeffrey E. <jeevacation@gmail.com> wrote:

These numbers cannot be right=C2*

On Thursday, March 5, 201=, Gianni Serazzi <serazzig@gmail.com <mailto:serazzig@gmail.com> > wrote:

<=ont face="HelveticaNeueLTPro-Th">

The asset management industry is expected to manage USD 100=trillion in assets by 2020, compared with USD 65 billion today

=AO

Do you agree with this statement? It's in =he yearly letter from Rothschild but I am not sure it's accurate
=div>
Thx
G
</=iv>

=C2

please note

The information contained in t=is communication is confidential, may be attorney-client privileged, ma= constitute inside information, and is intended only for the use of =he addressee. It is the property of JEE

Unauthorized use, disclosure=or copying of this communication or any part thereof is strictly prohib=ted and may be unlawful. If you have received this communication in =rror, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.c=m, and destroy this communication and all copies thereof, includ=ng all attachments. copyright -all rights reserved