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    <nameOfIssuer>3M CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88579Y101</cusip>
    <value>63</value>
    <shrsOrPrnAmt>
      <sshPrnamt>415</sshPrnamt>
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      <Sole>415</Sole>
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  <infoTable>
    <nameOfIssuer>3M CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88579Y101</cusip>
    <value>643</value>
    <shrsOrPrnAmt>
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    <votingAuthority>
      <Sole>4270</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ALPHABET INC</nameOfIssuer>
    <titleOfClass>CAP STK CL A</titleOfClass>
    <cusip>02079K305</cusip>
    <value>93</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120</sshPrnamt>
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      <Sole>120</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ALPHABET INC</nameOfIssuer>
    <titleOfClass>CAP STK CL A</titleOfClass>
    <cusip>02079K305</cusip>
    <value>307</value>
    <shrsOrPrnAmt>
      <sshPrnamt>394</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <Sole>0</Sole>
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    <nameOfIssuer>ALPHABET INC</nameOfIssuer>
    <titleOfClass>CAP STK CL C</titleOfClass>
    <cusip>02079K107</cusip>
    <value>1999</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2634</sshPrnamt>
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      <Sole>2634</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ALPHABET INC</nameOfIssuer>
    <titleOfClass>CAP STK CL C</titleOfClass>
    <cusip>02079K107</cusip>
    <value>3995</value>
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      <sshPrnamt>5264</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
      <Sole>5145</Sole>
      <Shared>0</Shared>
      <None>119</None>
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  <infoTable>
    <nameOfIssuer>AMAZON COM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>23135106</cusip>
    <value>473</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>AMBEV SA</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>02319V103</cusip>
    <value>59</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13300</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>APPLE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37833100</cusip>
    <value>2952</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28045</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <otherManager>1</otherManager>
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      <Sole>28045</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>APPLE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37833100</cusip>
    <value>2229</value>
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      <sshPrnamt>21173</sshPrnamt>
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      <Sole>19120</Sole>
      <Shared>0</Shared>
      <None>2053</None>
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    <nameOfIssuer>APPLIED MATLS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38222105</cusip>
    <value>137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7347</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <otherManager>1</otherManager>
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      <Sole>7347</Sole>
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      <None>0</None>
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    <nameOfIssuer>APPLIED MATLS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38222105</cusip>
    <value>1097</value>
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      <sshPrnamt>58750</sshPrnamt>
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      <Sole>58750</Sole>
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      <None>0</None>
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    <nameOfIssuer>ASML HOLDING N V</nameOfIssuer>
    <titleOfClass>N Y REGISTRY SHS</titleOfClass>
    <cusip>N07059210</cusip>
    <value>506</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5700</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>BAIDU INC</nameOfIssuer>
    <titleOfClass>SPON ADR REP A</titleOfClass>
    <cusip>56752108</cusip>
    <value>406</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2150</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>BANK AMER CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>60505104</cusip>
    <value>1527</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90731</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>90731</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>BANK AMER CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>60505104</cusip>
    <value>1274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75716</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61500</Sole>
      <Shared>0</Shared>
      <None>14216</None>
    </votingAuthority>
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    <nameOfIssuer>BED BATH &amp; BEYOND INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75896100</cusip>
    <value>965</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>20000</Sole>
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      <None>0</None>
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    <nameOfIssuer>BED BATH &amp; BEYOND INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75896100</cusip>
    <value>1382</value>
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      <sshPrnamt>28635</sshPrnamt>
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    <votingAuthority>
      <Sole>28635</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>BERKSHIRE HATHAWAY INC DEL</nameOfIssuer>
    <titleOfClass>CL B NEW</titleOfClass>
    <cusip>84670702</cusip>
    <value>3222</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24398</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>24398</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>BERKSHIRE HATHAWAY INC DEL</nameOfIssuer>
    <titleOfClass>CL B NEW</titleOfClass>
    <cusip>84670702</cusip>
    <value>2684</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20324</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14344</Sole>
      <Shared>0</Shared>
      <None>5980</None>
    </votingAuthority>
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    <nameOfIssuer>BIOGEN INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09062X103</cusip>
    <value>1743</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5689</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5689</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BIOGEN INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09062X103</cusip>
    <value>1267</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4137</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4120</Sole>
      <Shared>0</Shared>
      <None>17</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAPITAL ONE FINL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14040H105</cusip>
    <value>942</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13046</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11705</Sole>
      <Shared>0</Shared>
      <None>1341</None>
    </votingAuthority>
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    <nameOfIssuer>CELGENE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>151020104</cusip>
    <value>108</value>
    <shrsOrPrnAmt>
      <sshPrnamt>905</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>905</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CELGENE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>151020104</cusip>
    <value>722</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6030</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHECK POINT SOFTWARE TECH LT</nameOfIssuer>
    <titleOfClass>ORD</titleOfClass>
    <cusip>M22465104</cusip>
    <value>1518</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18650</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18650</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CHECK POINT SOFTWARE TECH LT</nameOfIssuer>
    <titleOfClass>ORD</titleOfClass>
    <cusip>M22465104</cusip>
    <value>2282</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28042</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27042</Sole>
      <Shared>0</Shared>
      <None>1000</None>
    </votingAuthority>
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    <nameOfIssuer>CHEVRON CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>166764100</cusip>
    <value>540</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6000</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>CHICAGO BRIDGE &amp; IRON CO N V</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>167250109</cusip>
    <value>319</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8188</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>0</Shared>
      <None>188</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CISCO SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>17275R102</cusip>
    <value>5515</value>
    <shrsOrPrnAmt>
      <sshPrnamt>203082</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>203082</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CISCO SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>17275R102</cusip>
    <value>2181</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80315</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76300</Sole>
      <Shared>0</Shared>
      <None>4015</None>
    </votingAuthority>
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    <nameOfIssuer>CITIGROUP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>172967424</cusip>
    <value>1394</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26928</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>26928</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CITIGROUP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>172967424</cusip>
    <value>1346</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26018</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23843</Sole>
      <Shared>0</Shared>
      <None>2175</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COCA COLA CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>191216100</cusip>
    <value>1709</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39782</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>39782</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>COCA COLA CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>191216100</cusip>
    <value>3</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>75</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>COLGATE PALMOLIVE CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>194162103</cusip>
    <value>346</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5200</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>COMCAST CORP NEW</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>20030N101</cusip>
    <value>59</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>1050</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>COMCAST CORP NEW</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>20030N101</cusip>
    <value>2037</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36097</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33753</Sole>
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      <None>2344</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CORNING INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>219350105</cusip>
    <value>389</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21300</Sole>
      <Shared>0</Shared>
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    <cusip>22160K105</cusip>
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  <infoTable>
    <nameOfIssuer>COSTCO WHSL CORP NEW</nameOfIssuer>
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    <titleOfClass>COM</titleOfClass>
    <cusip>126650100</cusip>
    <value>570</value>
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    <titleOfClass>COM</titleOfClass>
    <cusip>23332B106</cusip>
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    <titleOfClass>COM</titleOfClass>
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    <value>28</value>
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      <None>1000</None>
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    <titleOfClass>COM</titleOfClass>
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    <value>806</value>
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      <sshPrnamt>29347</sshPrnamt>
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      <None>1997</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>26875P101</cusip>
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    <shrsOrPrnAmt>
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      <None>0</None>
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    <nameOfIssuer>EOG RES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>26875P101</cusip>
    <value>948</value>
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      <None>517</None>
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    <nameOfIssuer>EXPRESS SCRIPTS HLDG CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30219G108</cusip>
    <value>415</value>
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    <nameOfIssuer>EXXON MOBIL CORP</nameOfIssuer>
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    <cusip>30231G102</cusip>
    <value>2167</value>
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      <Sole>27800</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>EXXON MOBIL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30231G102</cusip>
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      <None>1458</None>
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    <nameOfIssuer>FACEBOOK INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>30303M102</cusip>
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    <nameOfIssuer>FEDEX CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31428X106</cusip>
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      <Sole>5436</Sole>
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    <nameOfIssuer>FEDEX CORP</nameOfIssuer>
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    <cusip>31428X106</cusip>
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    <nameOfIssuer>FIRST TR NAS100 EQ WEIGHTED</nameOfIssuer>
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    <nameOfIssuer>GENERAL ELECTRIC CO</nameOfIssuer>
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    <nameOfIssuer>HEWLETT PACKARD ENTERPRISE C</nameOfIssuer>
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    <nameOfIssuer>ISHARES</nameOfIssuer>
    <titleOfClass>MSCI BRZ CAP ETF</titleOfClass>
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    <cusip>464287184</cusip>
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    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBOXX HI YD ETF</titleOfClass>
    <cusip>464288513</cusip>
    <value>438</value>
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      <None>1735</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>JP MOR EM MK ETF</titleOfClass>
    <cusip>464288281</cusip>
    <value>1303</value>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>JP MOR EM MK ETF</titleOfClass>
    <cusip>464288281</cusip>
    <value>65</value>
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      <None>616</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI AC ASIA ETF</titleOfClass>
    <cusip>464288182</cusip>
    <value>1536</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28754</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>28754</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI AC ASIA ETF</titleOfClass>
    <cusip>464288182</cusip>
    <value>181</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3396</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3100</Sole>
      <Shared>0</Shared>
      <None>296</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI EMG MKT ETF</titleOfClass>
    <cusip>464287234</cusip>
    <value>3408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105874</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>105874</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI EMG MKT ETF</titleOfClass>
    <cusip>464287234</cusip>
    <value>12</value>
    <shrsOrPrnAmt>
      <sshPrnamt>360</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>360</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>NASDQ BIOTEC ETF</titleOfClass>
    <cusip>464287556</cusip>
    <value>1376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4066</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4066</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUSSELL 2000 ETF</titleOfClass>
    <cusip>464287655</cusip>
    <value>389</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3455</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3455</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US OIL&amp;GS EX ETF</titleOfClass>
    <cusip>464288851</cusip>
    <value>299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5650</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5650</Sole>
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      <None>0</None>
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    <nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>478160104</cusip>
    <value>1717</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16716</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16716</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>478160104</cusip>
    <value>955</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9301</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8040</Sole>
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      <None>1261</None>
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    <nameOfIssuer>KAMADA LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>M6240T109</cusip>
    <value>165</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39907</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>39907</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>KONINKLIJKE PHILIPS N V</nameOfIssuer>
    <titleOfClass>NY REG SH NEW</titleOfClass>
    <cusip>500472303</cusip>
    <value>541</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21269</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20100</Sole>
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      <None>1169</None>
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  <infoTable>
    <nameOfIssuer>KRAFT HEINZ CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>500754106</cusip>
    <value>211</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MARKET VECTORS ETF TR</nameOfIssuer>
    <titleOfClass>RUSSIA ETF</titleOfClass>
    <cusip>57060U506</cusip>
    <value>536</value>
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      <sshPrnamt>36600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>36600</Sole>
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      <None>0</None>
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    <nameOfIssuer>MELLANOX TECHNOLOGIES LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>M51363113</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>54467</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>54467</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MELLANOX TECHNOLOGIES LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>M51363113</cusip>
    <value>87</value>
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      <sshPrnamt>2062</sshPrnamt>
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    <votingAuthority>
      <Sole>1500</Sole>
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      <None>562</None>
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  <infoTable>
    <nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>594918104</cusip>
    <value>1555</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28020</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>28020</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>594918104</cusip>
    <value>2958</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53310</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49320</Sole>
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      <None>3990</None>
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  <infoTable>
    <nameOfIssuer>NICE SYS LTD</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>653656108</cusip>
    <value>206</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>3600</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>NICE SYS LTD</nameOfIssuer>
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      <sshPrnamt>1000</sshPrnamt>
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      <Sole>0</Sole>
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      <None>1000</None>
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    <nameOfIssuer>NOVARTIS A G</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>66987V109</cusip>
    <value>6075</value>
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      <sshPrnamt>70609</sshPrnamt>
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      <Sole>70609</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>NOVARTIS A G</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
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      <sshPrnamt>22047</sshPrnamt>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>67066G104</cusip>
    <value>208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>68389X105</cusip>
    <value>2155</value>
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      <sshPrnamt>58997</sshPrnamt>
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      <None>3933</None>
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    <cusip>M75253100</cusip>
    <value>8340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>376867</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>174552</Sole>
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      <None>8604</None>
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    <nameOfIssuer>PAYPAL HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70450Y103</cusip>
    <value>1282</value>
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      <sshPrnamt>35413</sshPrnamt>
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      <Sole>31905</Sole>
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    <cusip>713448108</cusip>
    <value>1373</value>
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      <Sole>12989</Sole>
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      <None>752</None>
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    <nameOfIssuer>PERRIGO CO PLC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G97822103</cusip>
    <value>3195</value>
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      <sshPrnamt>22078</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>22078</Sole>
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      <None>0</None>
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    <nameOfIssuer>PFIZER INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>717081103</cusip>
    <value>4536</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140507</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>140507</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29415</Sole>
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      <None>6275</None>
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  <infoTable>
    <nameOfIssuer>POWERSHARES QQQ TRUST</nameOfIssuer>
    <titleOfClass>UNIT SER 1</titleOfClass>
    <cusip>73935A104</cusip>
    <value>18655</value>
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      <sshPrnamt>166772</sshPrnamt>
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      <Sole>166772</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>POWERSHARES QQQ TRUST</nameOfIssuer>
    <titleOfClass>UNIT SER 1</titleOfClass>
    <cusip>73935A104</cusip>
    <value>360</value>
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      <sshPrnamt>3221</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>3221</None>
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  <infoTable>
    <nameOfIssuer>PRICELINE GRP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>741503403</cusip>
    <value>1606</value>
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      <sshPrnamt>1260</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1260</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PROCTER &amp; GAMBLE CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>742718109</cusip>
    <value>1008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12698</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>12698</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PROCTER &amp; GAMBLE CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>742718109</cusip>
    <value>1461</value>
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      <sshPrnamt>18404</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17081</Sole>
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      <None>1323</None>
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  <infoTable>
    <nameOfIssuer>PROSHARES TR</nameOfIssuer>
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    <cusip>74347B201</cusip>
    <value>405</value>
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      <sshPrnamt>9200</sshPrnamt>
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      <Sole>9200</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>QUALCOMM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>747525103</cusip>
    <value>433</value>
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      <sshPrnamt>8670</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>8550</Sole>
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      <None>120</None>
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  <infoTable>
    <nameOfIssuer>SANOFI</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>80105N105</cusip>
    <value>227</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5321</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>5321</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>SANOFI</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>80105N105</cusip>
    <value>133</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3130</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
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      <None>230</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SCHLUMBERGER LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>806857108</cusip>
    <value>529</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7589</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7589</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHLUMBERGER LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>806857108</cusip>
    <value>963</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13810</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12371</Sole>
      <Shared>0</Shared>
      <None>1439</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>SBI CONS STPLS</titleOfClass>
    <cusip>81369Y308</cusip>
    <value>682</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13504</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13504</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>SBI CONS STPLS</titleOfClass>
    <cusip>81369Y308</cusip>
    <value>35</value>
    <shrsOrPrnAmt>
      <sshPrnamt>686</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>686</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>SBI HEALTHCARE</titleOfClass>
    <cusip>81369Y209</cusip>
    <value>2982</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41405</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41405</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>SBI HEALTHCARE</titleOfClass>
    <cusip>81369Y209</cusip>
    <value>28</value>
    <shrsOrPrnAmt>
      <sshPrnamt>387</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>387</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>SBI INT-ENERGY</titleOfClass>
    <cusip>81369Y506</cusip>
    <value>1456</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24143</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24143</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>SBI INT-ENERGY</titleOfClass>
    <cusip>81369Y506</cusip>
    <value>102</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1692</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1166</Sole>
      <Shared>0</Shared>
      <None>526</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>SBI INT-INDS</titleOfClass>
    <cusip>81369Y704</cusip>
    <value>1631</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30777</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30777</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>SBI INT-INDS</titleOfClass>
    <cusip>81369Y704</cusip>
    <value>272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5130</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>0</Shared>
      <None>4030</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>SBI MATERIALS</titleOfClass>
    <cusip>81369Y100</cusip>
    <value>1075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24757</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23900</Sole>
      <Shared>0</Shared>
      <None>857</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SMITH &amp; NEPHEW PLC</nameOfIssuer>
    <titleOfClass>SPDN ADR NEW</titleOfClass>
    <cusip>83175M205</cusip>
    <value>406</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR DOW JONES INDL AVRG ETF</nameOfIssuer>
    <titleOfClass>UT SER 1</titleOfClass>
    <cusip>78467X109</cusip>
    <value>851</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4891</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4891</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR S&amp;P 500 ETF TR</nameOfIssuer>
    <titleOfClass>TR UNIT</titleOfClass>
    <cusip>78462F103</cusip>
    <value>17676</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86702</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>86702</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR S&amp;P 500 ETF TR</nameOfIssuer>
    <titleOfClass>TR UNIT</titleOfClass>
    <cusip>78462F103</cusip>
    <value>543</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2664</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109</Sole>
      <Shared>0</Shared>
      <None>2555</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SYMANTEC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>871503108</cusip>
    <value>399</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TARO PHARMACEUTICAL INDS LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>M8737E108</cusip>
    <value>3905</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25265</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25265</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TARO PHARMACEUTICAL INDS LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>M8737E108</cusip>
    <value>1190</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7698</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7698</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TEVA PHARMACEUTICAL INDS LTD</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>881624209</cusip>
    <value>433</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TEVA PHARMACEUTICAL INDS LTD</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>881624209</cusip>
    <value>417</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6351</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6000</Sole>
      <Shared>0</Shared>
      <None>351</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TJX COS INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>872540109</cusip>
    <value>1515</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21364</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19187</Sole>
      <Shared>0</Shared>
      <None>2177</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TWENTY FIRST CENTY FOX INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>90130A101</cusip>
    <value>1270</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46750</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNION PAC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>907818108</cusip>
    <value>1712</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21894</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21894</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNION PAC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>907818108</cusip>
    <value>811</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10377</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9620</Sole>
      <Shared>0</Shared>
      <None>757</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INDEX FDS</nameOfIssuer>
    <titleOfClass>S&amp;P 500 ETF SHS</titleOfClass>
    <cusip>922908363</cusip>
    <value>432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2310</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2310</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INTL EQUITY INDEX F</nameOfIssuer>
    <titleOfClass>FTSE EMR MKT ETF</titleOfClass>
    <cusip>922042858</cusip>
    <value>3346</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102285</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>102285</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INTL EQUITY INDEX F</nameOfIssuer>
    <titleOfClass>FTSE EMR MKT ETF</titleOfClass>
    <cusip>922042858</cusip>
    <value>844</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25798</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17201</Sole>
      <Shared>0</Shared>
      <None>8597</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INTL EQUITY INDEX F</nameOfIssuer>
    <titleOfClass>FTSE EUROPE ETF</titleOfClass>
    <cusip>922042874</cusip>
    <value>3033</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>60800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INTL EQUITY INDEX F</nameOfIssuer>
    <titleOfClass>FTSE EUROPE ETF</titleOfClass>
    <cusip>922042874</cusip>
    <value>719</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14422</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4900</Sole>
      <Shared>0</Shared>
      <None>9522</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VODAFONE GROUP PLC NEW</nameOfIssuer>
    <titleOfClass>SPNSR ADR NO PAR</titleOfClass>
    <cusip>92857W308</cusip>
    <value>358</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WAL-MART STORES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>931142103</cusip>
    <value>148</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2419</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2419</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WAL-MART STORES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>931142103</cusip>
    <value>238</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3878</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3650</Sole>
      <Shared>0</Shared>
      <None>228</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WELLS FARGO &amp; CO NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>949746101</cusip>
    <value>15</value>
    <shrsOrPrnAmt>
      <sshPrnamt>270</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>270</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WELLS FARGO &amp; CO NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>949746101</cusip>
    <value>1390</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25571</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23454</Sole>
      <Shared>0</Shared>
      <None>2117</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WISDOMTREE TR</nameOfIssuer>
    <titleOfClass>JAPN HEDGE EQT</titleOfClass>
    <cusip>97717W851</cusip>
    <value>1442</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28785</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>28785</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>YAHOO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>984332106</cusip>
    <value>1437</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43206</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>43206</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>YAHOO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>984332106</cusip>
    <value>1721</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51739</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50854</Sole>
      <Shared>0</Shared>
      <None>885</None>
    </votingAuthority>
  </infoTable>
</informationTable>
