Miguel Guadalupe is the chief operating officer at Pacific Ventures, a UAE-based independent developer. The American was born in Coco Solo in the Panama Canal Zone in 1953 to an army office father and after graduating with a degree in computer information systems and mathematics from Miami Dade College, worked in management positions in various industries before moving to the UAE to join the company.
What are your favourite things to do on the weekend?
I am a nature person so my favourite things are fishing, hunting, swimming, going to the park and taking long drives between the mountains. Apart from these, I like watching movies and visiting family and friends.
What do you consider to be your favourite hobby?
Hobbies are a crucial element in our lives. It keeps the person passionate about life as it’s something you love to do. My hobby is camel riding and horse riding and Formula One. I love experiencing them as well as watching them. It’s very exciting and relaxing. Riding is a very good hobby, because it keeps you fit and helps you relax.
What can’t you live without?
My friends and family. I don’t see the point of living alone, not sharing your happiness or sadness with your beloved ones. The other things come automatically: food, shelter, love and good health.
What do you consider the secret to your success?
You must be passionate about what you are trying to achieve. For me, successful entrepreneurs pick an opportunity where others see nothing. Work hard to achieve it. It’s not as easy as it sounds, but within the long journey to success the person should be patient and should know how to enjoy that journey. I trust my gut instinct more than any spreadsheet. One should be flexible as well as persistent. I strongly believe in teamwork. It’s a simple fact: no individual can be good at everything. I rely on my team and make sure that everything is moving smoothly. Honesty and integrity are key words for me to achieve long-term success. It is a long journey and much more fruitful if you give back.
What advice would you offer others starting out in your business?
Becoming an entrepreneur and starting a business may sound scary for many, however, nobody expects rocket growth or a high profit initially. So they should just start slowly. To become a good entrepreneur, they should have passion to learn and an inquiring mind. They should get an adviser or a guide to learn from others' mistakes. It will stop them making the same mistakes and will help their business grow faster. They should attend networking events, exhibitions to grow their circle. Learning and enthusiasm does not always come from a guide. Some of their best learning may take place when they speak honestly to another businessperson in the same line of business. As long as the other entrepreneur is not a competitor, they are likely to be willing to share what they have already experienced. Networking is mutually beneficial for both the parties. Whenever you take business advice, make sure you give back too.
How do you achieve a work-life balance?
On my way to work, I switch myself into the work “me”, so on my way home I switch back again to being the non-work “me”. I believe in a planned and balanced life. Starting to think about what you want to do that evening can eventually draw your work thoughts away and help this change into becoming the non-work “you”. I also have a life after work, so why waste it? When I plan my week, I schedule my time with my family and friends, and activities that help me refresh.
How do you relax after the working day?
I go swimming, camping or the easiest way to relax for me is to listen to music. I sometimes take drives to relax after work as well. If it was a long day I might go for a massage. An after-work massage is a great way to unknot tight muscles. Muscles hold stress, and it is a great way of releasing this stress.
If you weren’t COO of this company, what else would you be doing?
I would do a lot of travelling. I love travelling to different countries and meeting different cultures. I would probably travel and give inspirational talks to the youth.
lbarnard@thenational.ae
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Our family matters legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
UAE currency: the story behind the money in your pockets
Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Nancy 9 (Hassa Beek)
Nancy Ajram
(In2Musica)
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
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.”
On racial profiling at airports
Results:
6.30pm: Maiden Dh165,000 2,000m - Winner: Powderhouse, Sam Hitchcott (jockey), Doug Watson (trainer)
7.05pm: Handicap Dh165,000 2,200m - Winner: Heraldic, Richard Mullen, Satish Seemar
7.40pm: Conditions Dh240,000 1,600m - Winner: Walking Thunder, Connor Beasley, Ahmed bin Harmash
8.15pm: Handicap Dh190,000 2,000m - Winner: Key Bid, Fernando Jara, Ali Rashid Al Raihe
8.50pm: The Garhoud Sprint Listed Dh265,000 1,200m - Winner: Drafted, Sam Hitchcott, Doug Watson
9.25pm: Handicap Dh170,000 1,600m - Winner: Cachao, Tadhg O’Shea, Satish Seemar
10pm: Handicap Dh190,000 1,400m - Winner: Rodaini, Connor Beasley, Ahmed bin Harmash
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Company%C2%A0profile
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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Top New Zealand cop on policing the virtual world
New Zealand police began closer scrutiny of social media and online communities after the attacks on two mosques in March, the country's top officer said.
The killing of 51 people in Christchurch and wounding of more than 40 others shocked the world. Brenton Tarrant, a suspected white supremacist, was accused of the killings. His trial is ongoing and he denies the charges.
Mike Bush, commissioner of New Zealand Police, said officers looked closely at how they monitored social media in the wake of the tragedy to see if lessons could be learned.
“We decided that it was fit for purpose but we need to deepen it in terms of community relationships, extending them not only with the traditional community but the virtual one as well," he told The National.
"We want to get ahead of attacks like we suffered in New Zealand so we have to challenge ourselves to be better."
