Hitchhiking from London to India as a 16-year-old opened Peter Middlebrook's eyes to the wider world.
With a guitar slung over his back and only a vague idea about where he was heading from day to day, the trip whetted his appetite for adventure.
"For some reason, I had the bug for travel. [Those were the days] when you didn't have internet or mobile phones, you just moved," says Mr Middlebrook, now aged 46, and the co-founder and chief executive of Geopolicity, a global management consultancy based in Dubai.
After a year and a half wandering through India, he ventured over the border to China and Beijing, then only starting to open up to western travellers, before catching the Trans-Siberian railway to the former Eastern bloc.Later, he trekked across the Sahara in the peak of summer to Algeria and on to Timbuktu, where he jammed with Ali Farka Touré, a popular Malian musician.
It was only after collecting passport stamps from more than 80 countries that he finally decided he needed to return to London and complete his education.
"After three years you think, at some point this will probably have to stop," he recalls.
And yet it never really has. A career of more than 25 years spanning diplomacy to political economics has taken him to work in more than 40 countries.
Many of those have been fragile or post-conflict states: Afghanistan, Iraq, Somalia, Liberia, Kosovo and Ethiopia to name a few. In Afghanistan, he drew up the country's national development strategy and budget after the president Hamid Karzai took office in 2004. In Iraq he advised the post-Saddam Hussein government on how to reform the public sector.
Despite a passion for international development, though, it was football and music that were his first loves.
He had trials with Millwall, the London-based football team. Then at aged 15, he taught himself to play the guitar and drums. By the time he was 17, he was playing concerts in front of several thousand people and supporting acts including Chas and Dave, the English pop-rock act, and the 1980s synth-pop artist Howard Jones. When he is not working, he still performs under the stage name Jamie Brooke. He has produced several albums too, most recently Violet Symphony.
"Music is an important way for me to discuss what I can't in my diplomatic work," he says.
Love, hope and desire are among the themes he sings about.
But it is the weighty issue of making troubled nations work more effectively for their people that preoccupies much of his time.
"Planet Earth is the only place in the universe where we know there's life but for some reason we don't respect each other. I'm a humanist and have spent many years working on welfare economics to try to solve the problem of famine and poverty and you realise it's not that simple. It all relates to land, and land is a national security issue."
One of his most challenging assignments came shortly after the September 11, 2001 attacks in the United States. He received a call from the European Union asking him to lead a team of policy experts to Afghanistan to advise on the struggling economy.
With the country mired in chaos as invading US forces battled against Al Qaeda and the Taliban, it was a mission most civilian workers would think twice about accepting. But Mr Middlebrook jumped at the chance.
"There was no government in 2001," he remembers. "Under the Taliban, we always said the countryside controls the towns and villages. There were no ministries, there was no government, there was no budget."
There was no defence against the raging fighting either. His office in Kabul was blown up, while the windows of his house were blown out. But rather than beating a hasty retreat, the conflict made him more determined to stay to help stabilise the country. He would stay in Afghanistan for seven years.
He later worked in Iraq as it emerged from the war that brought Saddam Hussein's rule to an end.
But Mr Middlebrook is philosophical about the dangers involved in his work.
"The real risk in countries such as Somalia, Iraq or Afghanistan is far greater for the local population. They get hit, and while we see the shells go overhead, so far it always had someone else's name on it and not mine. We always say: 'If you can hear it, you are still alive'."
For the past five years he has lived in Dubai, where he has focused on building up Geopolicity's client base with his business partner Sharon Miller. The two met in Kabul in 2005 when they were both advising Mr Karzai. She recalls Mr Middlebrook playing his guitar in the evenings.
"He's an intellectual but has a rock 'n' roll side, too," says Ms Miller.
From Dubai, Mr Middlebrook says he travels to about 20 countries a year.
"The Middle East is what I like to call Middle Earth," he says. "All of the strategic alignments between the East and West are coming here, so from a business point of view it makes sense to be in Dubai."
Dubai is also close to the Middle East nations going through tricky transitions after unrest. He's drawn to risky countries, he says, as that is where the greatest challenge and the greatest needs lie.
"The question to ask yourself is, 'do you want to live doing a job that's moribund that doesn't really change anything, or do you want to try to find some way of making a difference, even if it's hard?'."
tarnold@thenational.ae
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
AL%20BOOM
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AUSTRALIA SQUAD
Steve Smith (capt), David Warner, Cameron Bancroft, Jackson Bird, Pat Cummins, Peter Handscomb, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Shaun Marsh, Tim Paine, Chadd Sayers, Mitchell Starc.
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
The Florida Project
Director: Sean Baker
Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe
Four stars
JOKE'S%20ON%20YOU
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Europa League group stage draw
Group A: Villarreal, Maccabi Tel Aviv, Astana, Slavia Prague.
Group B: Dynamo Kiev, Young Boys, Partizan Belgrade, Skenderbeu.
Group C: Sporting Braga, Ludogorets, Hoffenheim, Istanbul Basaksehir.
Group D: AC Milan, Austria Vienna , Rijeka, AEK Athens.
Group E: Lyon, Everton, Atalanta, Apollon Limassol.
Group F: FC Copenhagen, Lokomotiv Moscow, Sheriff Tiraspol, FC Zlin.
Group G: Vitoria Plzen, Steaua Bucarest, Hapoel Beer-Sheva, FC Lugano.
Group H: Arsenal, BATE Borisov, Cologne, Red Star Belgrade.
Group I: Salzburg, Marseille, Vitoria Guimaraes, Konyaspor.
Group J: Athletic Bilbao, Hertha Berlin, Zorya Luhansk, Ostersund.
Group K: Lazio, Nice, Zulte Waregem, Vitesse Arnhem.
Group L: Zenit St Petersburg, Real Sociedad, Rosenborg, Vardar
ANDROID%20VERSION%20NAMES%2C%20IN%20ORDER
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Results
5pm: UAE Martyrs Cup (TB) Conditions Dh90,000 2,200m
Winner: Mudaarab, Jim Crowley (jockey), Erwan Charpy (trainer).
5.30pm: Wathba Stallions Cup (PA) Handicap Dh70,000 1,400m
Winner: Jawal Al Reef, Richard Mullen, Hassan Al Hammadi.
6pm: UAE Matyrs Trophy (PA) Maiden Dh80,000 1,600m
Winner: Salima Al Reef, Jesus Rosales, Abdallah Al Hammadi.
6.30pm: Sheikha Fatima bint Mubarak (IFAHR) Apprentice Championship (PA) Prestige Dh100,000 1,600m
Winner: Bainoona, Ricardo Iacopini, Eric Lemartinel.
7pm: Sheikha Fatima bint Mubarak (IFAHR) Ladies World Championship (PA) Prestige Dh125,000 1,600m
Winner: Assyad, Victoria Larsen, Eric Lemartinel.
8pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown (PA) Group 1 Dh5,000,000 1,600m
Winner: Mashhur Al Khalediah, Jean-Bernard Eyquem, Phillip Collington.
Company profile
Name: Thndr
Started: October 2020
Founders: Ahmad Hammouda and Seif Amr
Based: Cairo, Egypt
Sector: FinTech
Initial investment: pre-seed of $800,000
Funding stage: series A; $20 million
Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC, Rabacap and MSA Capital
'Laal Kaptaan'
Director: Navdeep Singh
Stars: Saif Ali Khan, Manav Vij, Deepak Dobriyal, Zoya Hussain
Rating: 2/5
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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.”
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
MATCH INFO
Uefa Champions League, last-16. first leg
Atletico Madrid v Juventus, midnight (Thursday), BeIN Sports
Company%20Profile
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Venom
Director: Ruben Fleischer
Cast: Tom Hardy, Michelle Williams, Riz Ahmed
Rating: 1.5/5
COMPANY%20PROFILE
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Venue: Sharjah Cricket Stadium
Date: Sunday, November 25
The biog
Hobbies: Salsa dancing “It's in my blood” and listening to music in different languages
Favourite place to travel to: “Thailand, as it's gorgeous, food is delicious, their massages are to die for!”
Favourite food: “I'm a vegetarian, so I can't get enough of salad.”
Favourite film: “I love watching documentaries, and am fascinated by nature, animals, human anatomy. I love watching to learn!”
Best spot in the UAE: “I fell in love with Fujairah and anywhere outside the big cities, where I can get some peace and get a break from the busy lifestyle”
THE BIO
Favourite book: ‘Purpose Driven Life’ by Rick Warren
Favourite travel destination: Switzerland
Hobbies: Travelling and following motivational speeches and speakers
Favourite place in UAE: Dubai Museum