Sjoerd Bax of UAE Team Emirates. Photo: SprintCyclingAgency
Sjoerd Bax of UAE Team Emirates. Photo: SprintCyclingAgency
Sjoerd Bax of UAE Team Emirates. Photo: SprintCyclingAgency
Sjoerd Bax of UAE Team Emirates. Photo: SprintCyclingAgency

Sjoerd Bax: Cobbled classics highlight of season so far for UAE Team Emirates


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Joining UAE Team Emirates has felt like a long time coming. The journey sort of started two years ago when the team started following me on the back of a strong season in the continental ranks. I was fit and performing really well, but the problem was that I had just signed for another team! That put the brakes on my transfer to UAE Team Emirates for another year, but boy am I glad to be here now.

Being the only rider in the team from the Netherlands, I remember feeling really nervous when I joined. The nerves were swiftly put to bed during the pre-season training camp in Spain, as it allowed the new riders to become familiar with the entire group and coaching staff.

Even after the first team meeting, I remember being surprised that most of the guys had heard of me. They were all extremely down to earth, interested in my journey, and determined to perform well together in the coming weeks and months.

The standard of the training camp was incredibly high. I was used to being one of the best climbers in my previous teams, but I felt I had to push myself to new levels just to compete with our guys.

The cobbled classics have been a real highlight of the season thus far, both personally and for the team. I performed well in Paris-Roubaix, or ‘The Hell of the North’ as it is refereed to.

It certainly lived up to that description. It was a really tough race. I know my capabilities as a rider and have confidence in my abilities, so to finish 13th place and be up there with the big riders was awesome. The atmosphere was amazing and to finish in the velodrome is a once in a lifetime experience I will cherish forever.

On to the Tour of Flanders, which produced one of the most spectacular performances in recent memory from Tadej Pogacar. It was something I will never forget.

From left: Juri Hollmann of Movistar, Jonas Koch of Bora Hansgrohe and Sjoerd Bax of UAE Team Emirates at Paris-Roubaix. EPA
From left: Juri Hollmann of Movistar, Jonas Koch of Bora Hansgrohe and Sjoerd Bax of UAE Team Emirates at Paris-Roubaix. EPA

The goal was clear: Put Tadej in a position to win the race. The togetherness and determination from the group to support him really motivated us to give our absolute maximum, and ultimately Tadej did something we may never see again.

On the whole, I think as a team it was one of our best years across the cobbled classics stretch. The win in Flanders is obviously a highlight, but we were certainly competitive in almost all of the races and several teammates produced strong results. It’s been a really memorable couple of months of cycling, and it has only added to my desire to do even better for the team next season.

Looking ahead to the rest of the year, my immediate focus shifts to my home race – the Amstel Gold race – which will be a special occasion, seeing so many friends and family supporting me. We have a strong group heading to the race, so we are confident of a strong showing if we all perform to our best. From there, I hope to compete in a Grand Tour event at some point this season, before finishing the year with the group of Italian races. It promises to be a season to remember.

From a team perspective, the Tour De France is the ultimate goal that we are all collectively striving towards. It’s the biggest cycling race in the world, and as one of the top teams on the circuit, we certainly have victory in our sights. It’s been a really strong start to 2023 for us, so we’re looking to keep improving and keep delivering podiums and race wins.

To our fans and partners of the UAE, thank you. You are the foundation of everything this team is built on, and we wouldn’t be able to achieve success without your continued support.

RESULTS
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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.”

Innotech Profile

Date started: 2013

Founder/CEO: Othman Al Mandhari

Based: Muscat, Oman

Sector: Additive manufacturing, 3D printing technologies

Size: 15 full-time employees

Stage: Seed stage and seeking Series A round of financing 

Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now. 

Persuasion
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Company profile

Company name: Dharma

Date started: 2018

Founders: Charaf El Mansouri, Nisma Benani, Leah Howe

Based: Abu Dhabi

Sector: TravelTech

Funding stage: Pre-series A 

Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs

Bio:

Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour

Favourite Hobby: Serving poor people 

Favourite Book: The Alchemist by Paulo Coelho

Favourite food: Fish and vegetables

Favourite place to visit: London

The biog

Name: Timothy Husband

Nationality: New Zealand

Education: Degree in zoology at The University of Sydney

Favourite book: Lemurs of Madagascar by Russell A Mittermeier

Favourite music: Billy Joel

Weekends and holidays: Talking about animals or visiting his farm in Australia

Updated: April 14, 2023, 12:49 PM