From: PETER MANDELSON Sent: Saturday, December 25, 2010 9:07 PM To: [email protected] Reflecting on our phone call, I hope I can do=something with WM. I told Lazard that I have been asked to do an event in=China for WPM as well as a dinner in Hanoi for Barclays and an evening in =ondon for HSBC. They say they happy with this. What they won't accept is m= travelling round generally with another bank's name on my ticket. Where a=propriate they want me to bear the Lazard brand - push business their way.=Lazard will help my own and Global Counsel's brand. Laz=rd have also said, tho, that if in the course of Global Counsel business l=am helping deals that involve other banks, they will be grown up about tha=. They have their own close relationship with JPM, Barclays etc. So if I am going to do something for JPM, it should b= a discreet Global Counsel project, something that does not directly compromise my Lazard relationship and which also does not trample on Tony'. territory. At this stage in my post ministerial =ife, lam learning. But I am a quick learner. My aim is to acquire enough =nowledge and networks in time to participate in real deals. I do not want =o live by salary alone. That's why I need to do as much as possible to bui=d with JPM. 1 EFTA_R1_00143601 EFTA01802080