Wynton Marsalis performing. Brad Barket / Getty Images
Wynton Marsalis performing. Brad Barket / Getty Images

Jamie Cullum on Wynton Marsalis: ”My favourite interview ever”



Hosting his own weekly jazz show, on BBC Radio 2 since 2010, Jamie Cullum has had the opportunity to interview pretty much everyone who matters in jazz that still has a pulse.

Legends including Herbie Hancock, Ahmad Jamal and Dave Brubeck have all stopped by the studio for a chat – as have surprise guests including Sir Paul McCartney, Clint Eastwood and Metallica’s Lars Ulrich.

But asked which guest left the greatest impression on him, Cullum made an extraordinary choice: Wynton Marsalis.

It simply doesn’t make sense – Marsalis, the ultimate outspoken conservative, who detests all fusions and seems to think jazz’s evolution should have been frozen sometime around 1964; and Cullum, the maddening crossover success who bats no bones about covering Rihanna or Radiohead in the same breath as Cole Porter or Thelonious Monk.

Clearly not the case. Speaking exclusively to The National, ahead of a private concert at the St Regis Dubai, Cullum went as far as to dub Marsalis his "favourite interview ever."

Here’s Cullum, in full loving praise of Marsalis: “I’ve been a fan of Wynton’s forever. Obviously he’s very outspoken, and has very strong views, and he’s one of the greatest musicians in the world – so he’s potentially quite intimidating. My path has obviously taken me away from the pure building blocks of jazz, across various genres, but I’ve remained a huge fan of his and find him very inspirational. I know everything about him, I’ve read all of his books and heard all of his albums.

“I met him, and I was a little nervous about it actually, but he could not have been nicer, more effusive – and also he knew everything about my career. He was really complimentary, and he saw exactly how I was trying to join the dots between the things that I loved, and put a British perceptive on it.

“I should have known that just by reading his book – he’s an enthusiast, a scholar, he imparts knowledges and enthusiasm, he’s infectious, and actually of course he’s not going to be a misanthrope. Of course. “He was just utterly charming. That was my favourite interview I ever did.”

For our full interview with Jamie Cullum, check Wednesday’s Arts&Life.

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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.”

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