The thirteenth manager of Real Madrid in the 16 years that the club's president, Florentino Perez, has been hiring and firing can have no illusions about the fragile nature of the job.
Santiago Solari, who guides the European champions and Fifa Club World Cup holders into their semi-final at Zayed Sports City on Wednesday, knows he is in the post partly by default, at short notice and is dispensable.
Solari is well prepared, though, for everything his position entails. His experience of the Real dressing room as a player educated him in the politics of the club, its hierarchies and what it takes to win over a demanding fan base. Solari was a fine, artful footballer, but he had to be patient at times. He was often the thirteenth man in an 11-man sport.
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More from Fifa Club World Cup:
John McAuley: How Al Ain can stun River Plate to reach the final
Gallery: Real Madrid arrive in Abu Dhabi ahead of challenge for fourth title
Andy Mitten: Real Madrid arrive in Abu Dhabi for Fifa Club World Cup in disarray
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“The highest-class substitute at the club,” is how Jorge Valdano, a former director of football at Real, described Solari in the years when his fellow Argentine was jostling for midfield positions with a superstar trio – Zinedine Zidane, Luis Figo and David Beckham.
Then there was the left wing, Solari’s natural zone, which was patrolled by the flying full-back, Roberto Carlos, and the front positions taken by the Brazilian Ronaldo and the prolific Raul Gonzalez.
That stellar cast-list had the Real Madrid of the early 2000s nicknamed "Los Galacticos", a glamorous collection of players eagerly acquired at record fees by Perez in the first of his two spells as president. Solari stood out in their company for several reasons.
First, there was his talent, which, although he made over half his 208 Madrid appearances from the bench, was good enough that he had a vital part, from the starting XI, in perhaps the most important goal of the Galactico era.
It was Solari who played the superb, measured pass that set up Roberto Carlos’s cross for Zidane’s arching volley to win the 2002 Champions League final against Bayer Leverkusen.
There was his intelligence, always vivid in his distribution of the ball, and obvious off the field. It is reported that Perez, who gained the presidency in the summer of 2000, the same time Solari joined Real from Atletico Madrid, remarked of him: “He thinks too much for a footballer,” and considered him the sharpest trade unionist in a dressing-room full of forceful personalities.
Many of Solari's teammates considered him an intellectual for his avid reading; some still talk about their awe and surprise at seeing him clutching a collection of Nietzsche essays.
Solari grew up with football, the son and nephew of players who earned a living from the game in Argentina. He was a good scholar, and completed his higher education in the US, which is where he perfected his spoken English.
His long playing career – which took in 11 caps, spread over six years, for Argentina – took him far and wide. Having handled the delicate jump from Atletico to Real, he moved to Inter Milan in Italy, where he won Serie A titles to go with his Liga gold medals, and he played in a 2009 Club World Cup semi-final in Abu Dhabi for the Mexican side Atlante. His last stop, aged 34, was with Penarol in Uruguay.
But the club perhaps closest to his heart is River Plate, and if his Madrid and the River – where Solari made his senior playing debut as a 19 year old – are to meet in the final this weekend, it will be especially resonant for the Real manager.
He was once a teammate of River Plate’s current director of football, Enzo Francescoli, and regarded him as an idol, as did Zidane, who had watched Francescoli playing for Marseille as a boy.
Like Zidane, who was abruptly promoted to Real manager just under three years ago and went on to win three Champions League titles, Solari came up from coaching the club’s feeder team, initially as a stopgap. He replaced the sacked Julen Lopetegui in October, and has fared well enough to be approved by Perez until the end of the season.
But it has not been easy. Solari does not have the superstar’s weight of approval that Zidane carried into the post. He does not have Cristiano Ronaldo’s goals to rescue Real in awkward moments.
He has heard the boos of the Bernabeu already, in defeats and even in limp victories. He may have been the ideal 12th or 13th man on the bench when he was a player, but he knows that some of his current charges – notably Isco – are not so comfortable starting as a substitute.
For the urbane, sophisticated Solari those are just a few of the challenges. A first trophy, one as prestigious as the Club World Cup, would feel immensely soothing.
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What is type-1 diabetes
Type 1 diabetes is a genetic and unavoidable condition, rather than the lifestyle-related type 2 diabetes.
It occurs mostly in people under 40 and a result of the pancreas failing to produce enough insulin to regulate blood sugars.
Too much or too little blood sugar can result in an attack where sufferers lose consciousness in serious cases.
Being overweight or obese increases the chances of developing the more common type 2 diabetes.
Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
The specs
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Results
4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m; Winner: MM Al Balqaa, Bernardo Pinheiro (jockey), Qaiss Aboud (trainer)
5pm: Jabel Faya – Maiden (PA) Dh60,000 (T) 1,000m; Winner: AF Rasam, Tadhg O’Shea, Ernst Oertel
5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel
6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m; Winner: Mujeeb, Richard Mullen, Salem Al Ketbi
6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m; Winner: Jawal Al Reef, Antonio Fresu, Abubakar Daud
7pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m; Winner: Ashton Tourettes, Pat Dobbs, Ibrahim Aseel
7.30pm: Jebel Hafeet – Maiden (TB) Dh80,000 (T) 1,400m; Winner: Nibraas, Richard Mullen, Nicholas Bachalard
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Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Fixtures
Wednesday
4.15pm: Japan v Spain (Group A)
5.30pm: UAE v Italy (Group A)
6.45pm: Russia v Mexico (Group B)
8pm: Iran v Egypt (Group B)
The specs
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Torque: 475Nm
Transmission: 9-speed automatic
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
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UAE currency: the story behind the money in your pockets
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
MATCH INFO
Uefa Champions League last 16, first leg
Liverpool v Bayern Munich, midnight, Wednesday, BeIN Sports
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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.”