FUJAIRAH // Diego Maradona says nothing will distract him in his quest for success at Fujairah, proclaiming that he will make defeating the club “an impossible task”.
The Argentine great, who captained his country to the 1986 World Cup title, was formally introduced to the media at the Al Diar Siji Hotel on Sunday having signed a one-year contract with the First Division side last week.
It ends a five-year hiatus for Maradona the manager, who was last employed by Dubai’s Al Wasl from May 2011. Then, he was dismissed 14 months into his two-year contract after guiding the team to eighth in the Arabian Gulf League.
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Read more
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■ Diego Maradona: New Fujairah manager 'not afraid of the challenge'
■ In pictures: Diego Maradona visits Fujairah stadium to sign one year contract
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The former Argentina national team manager and long-time Dubai resident said he had several offers of employment, but chose Fujairah, a side in the second tier of UAE football, because of the club’s ambition and his connection to the Emirates.
“Fujairah is my top-priority project,” said Maradona, 56. “I will give it my full-time attention and not think of anything else to distract me. I will focus on the players and the training camps and the requirements of the players. And to resolve all the problems that we could probably face.
“I want to achieve the goals and desires of the people of Fujairah, as well as all our aspirations. There is a great blend here, between the technical and tactical aspects. I have been provided great support to achieve success.
“I would like to say this very strongly and those who think of beating Fujairah will have to beat Maradona. I will make this an impossible task for everyone, because mentally we are very strong. From the first moment we spoke, this house has become my house.”
Maradona’s primary objective will be to guide Fujairah back into the Arabian Gulf League. The east-coast club missed out on an immediate return to the UAE top flight this season, when they finished fourth in the First Division, two places and nine points off promotion.
The former Boca Juniors, Napoli and Barcelona forward said he will place emphasis on integrating Fujairah’s youth players with the first team. Maradona’s contract runs until the conclusion of the 2017/18 campaign, but there is an option of an extension should the relationship prove successful.
“The factor that made me accept the job to coach here is I have missed the stadiums and football, to work personally, hands on, and not just watching it on TV,” Maradona said. “To feel once again how it is to manage a team.
“Everything that happened in the past is history, now there is only Fujairah and I would like to put all emotions and passions, physically and mentally into this project. I received many offers, for example from Kazakhstan and Russia and many other places. But my agent now has stopped and, my only agenda, its name is Fujairah.
“I will work very seriously and hard with Fujairah and we’ll look to create a team and attract players to guarantee us playing at the highest levels. And afterwards we’ll be ready to compete with any other rivals or team. Football does not know fear, but it knows joy and entrainment. And unfortunately I am 56 years old and I’m not able to play anymore.”
jmcauley@thenational.ae
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The bio
Favourite vegetable: Broccoli
Favourite food: Seafood
Favourite thing to cook: Duck l'orange
Favourite book: Give and Take by Adam Grant, one of his professors at University of Pennsylvania
Favourite place to travel: Home in Kuwait.
Favourite place in the UAE: Al Qudra lakes
SPECS
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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.”
The biog
First Job: Abu Dhabi Department of Petroleum in 1974
Current role: Chairperson of Al Maskari Holding since 2008
Career high: Regularly cited on Forbes list of 100 most powerful Arab Businesswomen
Achievement: Helped establish Al Maskari Medical Centre in 1969 in Abu Dhabi’s Western Region
Future plan: Will now concentrate on her charitable work
Getting there
The flights
Flydubai operates up to seven flights a week to Helsinki. Return fares to Helsinki from Dubai start from Dh1,545 in Economy and Dh7,560 in Business Class.
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Panorama Hotel in Levi is conveniently located at the top of Levi fell, a short walk from the gondola. Stays start from Dh292 per night based on two people sharing; www. golevi.fi/en/accommodation/hotel-levi-panorama
Arctic Treehouse Hotel in Rovaniemi offers stays from Dh1,379 per night based on two people sharing; www.arctictreehousehotel.com
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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NBA Finals results
Game 1: Warriors 124, Cavaliers 114
Game 2: Warriors 122, Cavaliers 103
Game 3: Cavaliers 102, Warriors 110
Game 4: In Cleveland, Sunday (Monday morning UAE)