No country for old gentlemen: the death of formal attire



It was the comedian Groucho Marx who famously said "I'd never want to be a member of any club that would have me".

These words will be ringing in the ears of one Londoner just now. Businessman and PR consultant Peter Bingle has been banned from one of the capital's most exclusive establishments for six months after incurring the wrath of the owners.

His offence? Not, as you might imagine, picking a fight or complaining about the table service. No, his crime was to arrive in a suit and tie.

Mr Bingle, a man of smart tastes and even smarter income, was barred from Soho House after the management decided that his over-formal attire was unsuitable for their image. The club is a favourite haunt of media movers and shakers, and the last thing it needed was patrons scaring off the fashionistas.

"The club openly discourages the wearing of suits and ties as we are a club for the creative industries and like being a relaxed environment," said a Soho House spokesman.

What a world. Once upon a time a smart appearance was considered essential if you wanted to be taken seriously in the UK. One of the first things I was taught as a child was how to polish my shoes, and when I came to London in the 1970s it was still common to witness thousands of bowler-hatted businessmen scurrying across London Bridge on the way to work. Umbrellas neatly folded, fob watches gleaming beneath the traditional pinstripe suit, theirs was the traditional image of the city gent, and woe betide any employee who dared stray from this code.

Nowadays the only bowler hat you're likely to see on the streets of the capital will be worn by street buskers or someone on their way to a Laurel and Hardy convention.

And it's not just in the business world that times are changing. The veteran actor Sir Donald Sinden once told me of an occasion, just after the war, when he turned up for the read-through of a new production at the Shakespeare Theatre in Stratford-on-Avon only to be sent home again for not having shaved.

Nowadays, a six o'clock shadow is positively de rigueur if you want to be taken seriously in the arts. Scruffy, it seems, is the new chic. Patched jeans, a faded T-shirt and a tumbled out of bed hairstyle: these suggest that you're so successful that you don't have to try too hard.

Such seismic cultural shifts are not merely confined to matters sartorial. While watching the recent Test match at Lord's I got into conversation with a fellow actor, and one of Britain's most prolific, and wealthy, voice-over artistes. Colin has made a tidy living over many years from dubbing commentaries for BBC documentaries. Yet when I met him he seemed downcast.

"My agency have just told me they think my voice is too posh to be of much use now," he muttered bitterly over his cup of tea. According to him, his middle-class suburban tones, ones that have graced countless TV shows for two decades, are no longer considered representative of cool Britannia. "No longer edgy enough", the agency said,

The absurdity of this reasoning was only heightened when they explained they'd still be happy to use him, "as long as the documentaries were for the overseas market only".

Such shifting cultural mores seem destined to provide a king-size headache for the organisers of next year's London Olympics. With the opening ceremony less than a year away, what image should a host nation portray in the 21st century? Beefeaters and bowlers, or hoodies and high-fives? With an expected global TV audience running into billions, it's important we dress appropriately for the occasion.

Luckily a saviour is at hand. Alexander Boris de Pfeffel Johnson, London's current mayor, has made an art form out of being able to combine every conceivable fashion statement in the same outfit.

Described by his supporters as representing "global chic", and by his detractors as dressing like a bag of muck tied up with string, his appearance for the handover of the torch at the finish of the Beijing Olympics back in 2008 amalgamated everything in one spectacular fusion: jacket unbuttoned, a Marks & Spencer shirt, a tie from China, a pair of shoes from Church's and with his trademark shock of straw- blond hair looking as if he'd just wandered in from a morning spent working on the farm.

As long as he's involved in the ceremony come July 27, we can be assured that Britain will be depicted in all its modern, shambolic glory.

Michael Simkins is a writer and actor based in London

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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.

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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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SERIES INFO

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All matches at the Harare Sports Club
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2nd ODI, Fri Apr 12
3rd ODI, Sun Apr 14
4th ODI, Sun Apr 16

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Zimbabwe squad
Peter Moor (captain), Solomon Mire, Brian Chari, Regis Chakabva, Sean Williams, Timycen Maruma, Sikandar Raza, Donald Tiripano, Kyle Jarvis, Tendai Chatara, Chris Mpofu, Craig Ervine, Brandon Mavuta, Ainsley Ndlovu, Tony Munyonga, Elton Chigumbura

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Roll of Honour

Who has won what so far in the West Asia rugby season?

 

Western Clubs Champions League

Winners: Abu Dhabi Harlequins

Runners up: Bahrain

 

Dubai Rugby Sevens

Winners: Dubai Exiles

Runners up: Jebel Ali Dragons

 

West Asia Premiership

Winners: Jebel Ali Dragons

Runners up: Abu Dhabi Harlequins

 

UAE Premiership Cup

Winners: Abu Dhabi Harlequins

Runners up: Dubai Exiles

 

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Friday

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West Asia Trophy final

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Friday, April 13

UAE Premiership final

5pm, Al Ain, Dubai Exiles v Abu Dhabi Harlequins

Company Profile

Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
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