Actor Johnny Depp, with a diamond ring on his left hand, attends a promotional event for his new movie Transcendence in Beijing, China. Alexander Yuan / AP Photo
Actor Johnny Depp, with a diamond ring on his left hand, attends a promotional event for his new movie Transcendence in Beijing, China. Alexander Yuan / AP Photo

Italian ring’s the thing if you like Johnny Depp’s



Johnny Depp, babbling piratically, brandished a burnished diamond engagement ring last week as confirmation of his planned wedding to Rum Diaries co-star Amber Heard. Lucky guy, lucky lady. This "chick's ring" – his words – sent Chinese fans at a Beijing press conference swooning.

From the Italian jewellers Ormé – which means footprints in Italian – comes a competitor. Ormé’s signature ring, which retails for Dh78,000, is available from its store in Jumeirah Lakes Towers in Dubai, which opened last year. It’s 120 grams of 18-carat white gold with white and gold diamonds.

Ezio Patrizi, who, with his wife Cinzia opened their first store in 1988, describes the ring’s genesis as follows: “Cinzia had the idea of the ring when we were at our beach house; she was watching sea waves during a very windy day and thought of the water caressing the arm, flowing around it.

“The idea is an ideal embrace; we thought that this piece could be one of the few jewels that a woman could wear without needing any other ornament.”

So there you have it. A ring that is like being caught in the sea’s rolling embrace, and which the experience of wearing is like having your arm submerged in warm saltwater.

So far, two have been created and sold in Italy, with a third available for the Dubai market. Each is hand-made, and takes one month to produce.

For Ormé, which has two stores in Italy – the second opened last year – the ring, designed last September, is a testament to the brand’s creativity. Ormé claims its bespoke creations appeal to Italy’s upper classes thanks to its combination of Italian heritage with unique and unusual design.

“It is intended for the woman who has almost everything and can afford even more,” Mr Patrizi adds about the signature ring. Everything, that is, except Johnny Depp. But rest easy, Depp fans, since he’s unlikely to be your dream man anyway.

“I think that I would be better at making women’s shoes than I would be at wedding planning, I can’t plan anything. I’m really bad at that stuff,” Depp told the Associated Press. How fortunate that he’s been taken off the market then.

q&a a rare gem to be treasured

Cinzia Patrizi, co-founder of Ormé, reveals more about the jewellery brand’s signature ring.

Why should I buy it?

Because the ring has a unique design. It’s very precious and completely handmade; there will not be many of these in the world. It might be reproduced other times, if it becomes our signature piece here in Dubai. We’re also thinking of releasing a different version, with different colour stones.

Why did Ormé open a shop in Dubai?

We opened our showroom in Dubai because we love the city; we have been coming here for a long time, and just this year we thought of launching Ormé. We love the diversity of this place and the different cultures that make it so special. It’s a unique place, just like our jewels.

What has the response been?

We just started marketing the brand; we are confident that results will come soon.

How does it differ from the Italian shop?

In Rome, we don’t just sell our own jewels, we sell other manufacturers’ jewellery; in Dubai we are only marketing Ormé, which is our own brand.

What other products does Ormé sell?

We specialise in rings and earrings; necklaces will come soon, as we are trying to gradually understand this market. We will launch a new line soon, which will be a little less expensive, but always unique and the result of an exclusive design.

abouyamourn@thenational.ae

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The bio

Favourite food: Japanese

Favourite car: Lamborghini

Favourite hobby: Football

Favourite quote: If your dreams don’t scare you, they are not big enough

Favourite country: UAE

The specs

Price, base / as tested Dh12 million

Engine 8.0-litre quad-turbo, W16

Gearbox seven-speed dual clutch auto

Power 1479 @ 6,700rpm

Torque 1600Nm @ 2,000rpm 0-100kph: 2.6 seconds 0-200kph: 6.1 seconds

Top speed 420 kph (governed)

Fuel economy, combined 35.2L / 100km (est)

The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

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.”

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

The biog

Prefers vegetables and fish to meat and would choose salad over pizza

Walks daily as part of regular exercise routine 

France is her favourite country to visit

Has written books and manuals on women’s education, first aid and health for the family

Family: Husband, three sons and a daughter

Fathiya Nadhari's instructions to her children was to give back to the country

The children worked as young volunteers in social, education and health campaigns

Her motto is to never stop working for the country

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