Butch James will link up with the Golden Lions for the final part of the Super 15 season.
Butch James will link up with the Golden Lions for the final part of the Super 15 season.

Butch James joins South Africa's Golden Lions rugby team



JOHANNESBURG // South Africa's Golden Lions have signed Springbok fly-half and 2007 World Cup winner Butch James from English club Bath for the final part of the Super 15 season.

The Johannesburg-based Lions said James, 32, will join in May on a two-year deal.

James was presented at a Johannesburg airport on Tuesday after arriving in a private jet belonging to new Lions shareholder Ivor Ichikowitz.

The billionaire South African businessmen and Robert Gumede last year bought a 49 per cent stake in the Lions, formerly known as Transvaal and one of South Africa's strongest rugby provinces, and pledged to turn around the fortunes of the struggling team.

The Lions lost all 13 of their games in the 2010 Super 14 - the worst season ever by a Super Rugby team. But the Lions revived their fortunes in South Africa's Currie Cup competition under former New Zealand coach John Mitchell, who joined after the Super 14.

The investment by Gumede and Ichikowitz has linked the team with a string of high-profile names, including James and fellow Springboks Tendai Mtawarira, BJ Botha, the prop-forwards and Francois Steyn, the utiity back.

"I'm proud to be returning to South Africa and to be joining the Lions," James said, "but at the same time sad to be leaving Bath after four successful seasons.

"The Lions vision excites me and I'm also very keen to be part of the Springboks for the World Cup again."

A former fly-half with the Natal Sharks, James has played 40 Tests for South Africa but fell out of favor after his move to Bath before being recalled to the Tri-Nations squad last year.

"Butch comes with a wealth of experience and has tremendous value to add to the Lions," Mitchell said. "I'm really looking forward to working with a player with Butch's calibre and experience."

The Lions said they had been in contact with Bath since October in an effort to secure James's move, adding that they are "honored and humbled" to finally sign the player.

Gumede, an IT mogul, and Ichikowitz, who owns an arms and defence company, last year promised to transform the face of South African rugby with their investment in the Lions.

They said they would make the sport as popular with black fans as it is with white supporters, and will stage Lions games in Soweto following successful matches at the Johannesburg township for the Pretoria Bulls and South Africa's national team last year.

The Lions are still reportedly trying to sign South Africa props Botha and Mtawarira ahead of the new Super 15 season. The team begins the tournament against defending champions and local rivals the Bulls on February 19.

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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
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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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Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
A timeline of the Historical Dictionary of the Arabic Language
  • 2018: Formal work begins
  • November 2021: First 17 volumes launched 
  • November 2022: Additional 19 volumes released
  • October 2023: Another 31 volumes released
  • November 2024: All 127 volumes completed
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Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

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