It was deep into extra time and the DFB-Pokal (German Cup) final was tied. Once again, Bayern Munich and Borussia Dortmund could not be separated. Once again, Arjen Robben made the difference.
His extra-time opener sent Bayern up for a domestic double just as, 12 months earlier, his 89th-minute winner against Dortmund ensured the Uefa Champions League trophy was taken back to Bavaria.
They are two games, two moments, that could give Robben a reputation as the scourge of Dortmund. More significantly, they illustrated his status as a big-game player.
It was not always thus: Robben’s career could have been defined by missed penalties, whether in the 2012 Champions League final against Chelsea or, while with Chelsea five years before, in the 2007 semi-final shoot-out against Liverpool.
The 2013 final equated to redemption after events 12 months earlier. The last few years amount to a revival of a talent for a player Real Madrid discarded in 2009. Yet, despite his considerable achievements, despite Bayern’s perfect season of 2012/13, despite helping Netherlands reach the World Cup final, despite seven league titles in four countries, there is the sense that Robben’s brilliance has not quite brought the recognition it should have.
Were it not for a certain Cristiano Ronaldo, he might be established as the most devastating winger in the world, yet he rarely takes top billing for club and country. Robben may be the most direct, the most viscerally exciting player in the Bayern ranks, but Franck Ribery was their prime candidate for the Ballon d’Or last year.
At the national team level, he has been tended to rank second. Netherlands reached the World Cup final four years ago and 2010 was Wesley Sneijder’s greatest year, when he won the treble with Inter and was the joint-highest scorer in South Africa. Since then, Robin van Persie has become the main figure in attack and the record scorer.
Yet, as they contemplate a rematch with Spain, their opponents in the Johannesburg showpiece of 2010, Netherlands have been reconfigured in a way that could have rendered Robben redundant, but threatens to make him more dangerous.
Manager Louis van Gaal jettisoned the typical Netherlands 4-3-3 formation and introduced the 5-3-2.
They could have been wingless wonders; instead, Robben has been relocated. He is the central winger, the man with the free role, the wild card.
Van Persie is the main striker, the man who leads the line. Sneijder is the playmaker, the attacking central midfielder who is protected by the defensive duo who do the hard work. Robben could be charged with going out and creating havoc.
He represents the antithesis of Friday’s opponents. Robben has long been accused of selfishness; Spain’s passing is rather selfless. He can squander possession, whereas they prize it. Yet he can be more direct, more dynamic and more destructive than his opponents.
It is tempting to go back 18 months, to when it became apparent that Pep Guardiola would replace Jupp Heynckes as the Bayern Munich manager. Plenty wondered if it spelled the end for Robben; instead he proved as integral for the Catalan as he had for the German.
Yet the Guardiola-esque side on display in Salvador will be Spain; their nominal wingers could be two of his former Barcelona charges, Andres Iniesta and Pedro. The Netherlands winger may not be on the wing at all, but floating with intent infield.
Throughout Robben’s career, one criticism has been a constant: that he exclusively looks to cut in and onto his left foot and shoot. If it suggests he is one-dimensional, it is an approach that brought more than 150 goals for his clubs and a further 23 for Netherlands, despite frequent injuries.
This has been his most productive season for both club and country. Perhaps Robben is at his peak. Perhaps too few acknowledge the heights he has scaled already.
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
UAE currency: the story behind the money in your pockets
Why seagrass matters
- Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
- Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
- Biodiversity: Support species like sea turtles, dugongs, and seabirds
- Coastal protection: Reduce erosion and improve water quality
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
Company profile
Date started: 2015
Founder: John Tsioris and Ioanna Angelidaki
Based: Dubai
Sector: Online grocery delivery
Staff: 200
Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends
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Silent Hill f
Publisher: Konami
Platforms: PlayStation 5, Xbox Series X/S, PC
Rating: 4.5/5
I Care A Lot
Directed by: J Blakeson
Starring: Rosamund Pike, Peter Dinklage
3/5 stars
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet