From: jeffrey E. <jeevacation@gmail.com>
Sent: Sunday, December 3, 2017 6:47 PM
To: perso@aderfam.ch
Subject: Re:

of course,

On Sun, Dec 3, 2017 at 1:46 PM, perso@aderfam.ch <mailto:per=o@aderfam.ch> <perso@aderfam.ch> wrote:=br>

I know you're totally right and I know I have to find a way out of =his upwards . Also way too fragile to have me only .

I drives me crazy to spend hours &hours on low level banking issue= when we should be aiming much higher . Also I have no time left to =evelop the rest well ( and could be amazing )

Can we speak tomorrow about it ? Ariane de Rothschild =A0

On 3 Dec 2017, at 19:30, jeffrey E. <jeevacation@gmail.com <mailto:jeevacation@gmail=com» wrote:

As I have stated before , there is no reason to be e=ther . /or you can be both, .. Jes will be =appy to be out of barclays . that is for you only. - . l=am supportive of any path you choose that gives you securtiy, = you not the bank, not benj the cousins or the wine biz. I kills me to see =ou spending that your amazing talents as part of the working c=ass. I am sensitve to the family obligations. but =ou need HELP. cynthia is no where the level of tal=nt that you require. I am aware that you dont like to hear that. but it is a consensus .=C2 sorry, she is a good accountant . that is it. =AO emanuel lacks gravitas , and reputation in the market place. =AO two characteristics that will become more important to build the brand.=C2 You have by far the best name in the business, Sep=rate and apart from you, it does damage to the brand when people get=into the weeds. . Cleaning the bank was brilliant. and w=ll done. but there is no one besides you doing big things. =AO Selling it is too complicated given the tax issues. A structure like 1V=C2 sharing back office, having a public vehilce and a private one= not that hard. .

over and over , I hear that the bank and its reputation , powe=ful is you but as a one man band. maybe harsh , bu= no third party disagrees. The issue discussed the other day w=th someone high in your industry was , what happens if somethi=g happens to ariane. ?? I. dont tell me tweedledum and tweedledee. =AO ( cynthia and emanuelle ) . will be in charge. I tol= them i was unaware of succession plans.

I am always there for you, and though you might dis=gree, you will always get my best advice.

On Sun, Dec 3, 2017 at 1:01PM, perso@aderfam.ch <perso@aderfam.ch <mailto:perso@aderfam.=h» wrote:

I was thinking about the merger. Is it really a good idea=to become a fully listed entity ?

A=iane de Rothschild

On 3 Dec 2017, at 13:29, jeffrey E. <jeevacation@gmail.com <mailto:jeevacation@gmail=com»

wrote:

i looked at the numbers. in jeffreys ide=l world there is a merger. or jv. . if jes s=aley can play a part all the better. as someone who you can di=ect that has vast experince in all aspects including regulatory. ..=the alternative is to try to sell JB to cs and you would get some of the clien=s who dont want to be part of a big bank

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and

destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved

please note

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Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com <mailtoleevacation@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved

## =AO please note

The information contained i= this communication is confidential, may be attorney-client privileged,=may constitute inside information, and is intended only for the use =f the addressee. It is the property of JEE Unauthorized use, disclos=re or copying of this communication or any part thereof is strictly pro=ibited and may be unlawful. If you have received this communication =n error, please notify us immediately by return e-mail or by e-mail to =a href="mailto:jeevacation@gmail.com" target="_blank">jeevacation@gmai=.com, and destroy this communication and all copies thereof, inc=uding all attachments. copyright -all rights reserved

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