Illustration by Christopher Burke for The National
Illustration by Christopher Burke for The National
Illustration by Christopher Burke for The National
Illustration by Christopher Burke for The National

Amanda Line: A drive to excel honed at Rugby


Gillian Duncan
  • English
  • Arabic

The decision to make Amanda Line a school prefect was not exactly popular among her peers.

Walking into the student monitor room for the first time, she came under a barrage of blue plastic coffee cups.

Yet as one of just 20 girls in the former all-boys boarding school, Rugby, the act was nothing against her personally. But her time at the exclusive English public school did turn out to be rather good training for her future career.

Ms Line, now the regional director for the chartered accountants association ICAEW, says her time at Rugby gave her an insight into how to succeed in a man's world.

"I have always worked in a predominantly male world, and I think I got used to it at the ages of 16, 17 and 18," she says. "You had to survive. You had to be as good as the boys. You had to not let the fact that you were a girl influence you in any way."

Knowing she wanted to be in business, and seeing accountancy as the best route in, she set off for London after school and joined Stoy Hayward, now BDO.

Ms Line remained with the firm for about six years before setting up a small audit practice of her own. It was during this time that a firm contracted her to deliver finance training for employees.

Her first contract, training Unilever graduates who were young, "lovely" and keen to learn, was a dream, she recalls.

Then she landed a gig with a UK utility company. At the time the company, which was state-owned but in the process of going private, wanted its engineers to have an understanding of how to manage a profit-and-loss account.

At first the engineers assumed she was merely there to serve the coffee or introduce the trainer. But as soon as she started to talk, it dawned on them that Ms Line, just 28 at the time, was the trainer.

"The body language, leaning back in the chair and looking round to each other to go 'is this really happening? She's not serious. She's the same age as our daughter. What on earth is she going to tell us?'" she adds, mirroring the actions and looks that used to flash across the engineers' faces.

Had the trainer been a balding, middle-aged man, the engineers' expectations would have been entirely met, she says. But this way, at least Ms Line was able to get their attention - even if it was only because they believed she could not teach them anything new.

"By the morning break, I would have them, and occasionally I didn't because it would just take one and they all [followed] … But that would happen very rarely," she says.

Ms Line's privileged upbringing could have been another barrier in dealing with the engineers. But people who know her will be entirely unsurprised to learn of her success in the role.

"Whoever she's talking to she will pitch it right," says her friend Kit James.

"She can pitch it as well to my 11-year-old as she could to the chief executive of PricewaterhouseCoopers, you know. It's a huge skill set," he adds.

Yet she never quite embraced her unwanted talent for teaching finance to northern middle-aged engineers and spent many sleepless nights in motorway hotels before the sessions.

It was while she was sitting in one of the grotty hotels that she received a call from her husband, a pilot, to say he had been offered a job with Singapore Airlines.

"I remember thinking, another day with the engineers at Yorkshire Water, or Singapore … I didn't have to think too long about that," she says.

Ms Line spotted an advertisement in a British accountancy magazine for a Singapore-based finance lecturer before the move. She was interviewed over the phone and subsequently offered the job teaching graduates professional accountancy.

The students were diligent and a delight to teach, but the school took its money and did not deliver value in return, she says. Electricity would go off during class and there were never enough chairs or notes to go around. She "whinged and whinged" about the situation until her husband suggested that she leave and set up a school of her own.

"I thought that's exactly what I should do," she says.

Ms Line established the school with financial backing from the UK institution which trained her.

Building the business was stressful at times. Take for example the time she was served a writ while she was in labour with her second son, warning her not to employ a lecturer who was still on a contract with another school.

But after seven years, the school had become the biggest of its kind in Singapore, with branches in Hong Kong and China, and had 60 lecturers who trained 5,000 students at any one time.

The fact that she made such a success as an entrepreneur would have come as no surprise to her siblings, to whom she used to sell her junk as a child.

"All the stuff I didn't want any more I put it out on my bed with a price tag on it and I put a notice on my bedroom door saying sale will start in 10 minutes," she recalls with a grin.

"I would make them stand outside and at the last minute they would come in and they would be so desperate they would buy everything. My brother once bought my broken Timex watch for £5. My mum was so horrified she made me give him a refund, which I was furious about," says Ms Line.

True to form, Ms Line sold her stake in the Singapore education company for a tidy profit after her British backer was bought out. And after 11 years in Singapore, Ms Line and her husband decided to move to be closer to the United Kingdom, where their sons went to school.

They chose to move to Dubai because it had a good airline for her husband to work for, and Ms Line's sister and husband - also a former Rugby pupil - live here.

For the first time in her adult life, Ms Line took time off after moving to the emirate. But she soon became bored and started scouting around for investment opportunities. She identified two, including Dante, a sandwich delivery company.

Initially intending to be only an angel investor, Ms Line quickly became more involved. But being forced to deal with day-to-day crisis management issues made her realise she was more suited to professional services.

Staffing problems were high up on Ms Line's list of concerns. She used to get up at 3am to check the CCTV cameras to make sure everything was as it should be in the kitchen.

"I would call them up and say 'I just saw you come into the kitchen and didn't see you wash your hands.' It was so stressful, for what? I mean, we made a bit of money, a bit," she adds.

Ms Line, another investor and the founder sold the business in 2009. After that she decided to take some time out, but the very next day she received a call from her own professional membership body, ICAEW, to see if she was interested in setting up a Dubai office.

The opportunity to build the regional reputation and profile of the institute would become the latest in a long line of varied careers.

"I have been a teacher, I have been a businesswoman, I have been a sandwich maker. I have done all sorts of things, but at the end of the day, every day, I have a choice," she adds.

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Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

Uefa Nations League: How it works

The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.

The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.

Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.

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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.”

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

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