Israel's attack on Beirut was its first since June, although it regularly bombards the south of Lebanon. EPA
Israel's attack on Beirut was its first since June, although it regularly bombards the south of Lebanon. EPA
Israel's attack on Beirut was its first since June, although it regularly bombards the south of Lebanon. EPA
Israel's attack on Beirut was its first since June, although it regularly bombards the south of Lebanon. EPA

Israel says it killed Hezbollah chief of staff in Beirut attack


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Israel claimed it had killed Hezbollah's chief of staff in strike on an apartment building in a busy area of Beirut on Sunday, in which at least four other people died.

The Hezbollah official was named by the Israeli army as Haitham Ali Tabatabai, deputy to Secretary General Naim Qassem. As chief of staff, he would have been the most senior military official in Hezbollah.

There was no immediate confirmation from Lebanon that Mr Tabatabai had been killed, but the Lebanese Ministry of Health said at least five people were dead and 28 injured in the incident.

Israel's Prime Minister Benjamin Netanyahu said his military attacked "the chief of staff of Hezbollah" in the strike on Lebanon's capital, which took out at least three floors of the building.

Speaking from the attack site, Mahmoud Qamati, the deputy head of Hezbollah's political council, confirmed a senior leader of the group had been hit, without revealing their identity. He said the attack was a violation of "a new red line" and said Hezbollah leaders were studying how to respond.

The US has previously offered $5 million for information on Haytham Ali Tabatabai. Photo: US Department of State
The US has previously offered $5 million for information on Haytham Ali Tabatabai. Photo: US Department of State

It is the fourth strike on the Beirut suburb of Dahieh since the ceasefire between Israel and Lebanon's Hezbollah was announced last year. The last Israeli attack on Dahieh was in June, ahead of the Eid holiday.

Videos of Sunday's incident showed significant damage to cars and surrounding buildings as ambulance teams worked to evacuate the wounded from Haret Hreik neighbourhood. The Lebanese Army was quickly on the scene to set up a security cordon.

Residents of Haret Hreik said they heard the whistle of war planes before the missile struck the building.

The attack was condemned by Lebanese President Joseph Aoun, who has repeatedly called for negotiations with Israel. He said the bombing showed Israel "does not care about the repeated calls to stop its attacks on Lebanon".

Mr Netanyahu's office said he ordered the attack on the recommendation of Defence Minister Israel Katz and army chief Lt Gen Eyal Zamir. "Israel is determined to act to achieve its objectives everywhere and at all times," it said.

The US had sanctioned Mr Tabatabai, designating him a “specially designated global terrorist” and offering a reward of up to $5 million for information on him.

The US State Department described him as commanding Hezbollah’s special forces, operating in Syria – where at the time the group was heavily involved in propping up the regime of Bashar Al Assad. Mr Tabatabai was also reported to have been in Yemen.

Rescuers search for survivors at the scene of the Israel attack. AFP
Rescuers search for survivors at the scene of the Israel attack. AFP

“Tabatabai’s actions in Syria and Yemen are part of a larger Hezbollah effort to provide training, materiel and personnel in support of its destabilising regional activities,” the US State Department said.

Mr Tabatabai was reported to have been targeted several times during Israel’s war on Lebanon last year but, unlike most other top Hezbollah officials, he was able to escape. Israel notably killed Hassan Nasrallah, Hezbollah's leader since 1992, and some of his senior allies.

Israel has repeatedly threatened to escalate attacks on Lebanon amid its criticism at the pace that the Lebanese government has shown in disarming Hezbollah. The US has also increased pressure on Lebanon to show concrete progress on the matter. Hezbollah itself has rejected any conversation over its weapons under the current circumstances.

Last year, Lebanon and Israel agreed to a US and French-brokered ceasefire. Under the terms, Hezbollah and Israeli forces were required to withdraw from southern Lebanon, where UN peacekeepers were deployed alongside the Lebanese army to help dismantle Hezbollah infrastructure.

But despite the truce almost a year ago, Israel has continued to attack southern Lebanon relentlessly and occupy five points of Lebanese territory.

Skewed figures

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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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Updated: November 24, 2025, 3:12 AM