Emirati Omar Yabroudi, pictured on October 10, 2014, is the first-team performance analyst and head of recruitment at the Barnet Football Club in North London, England. Stephen Lock for The National
Emirati Omar Yabroudi, pictured on October 10, 2014, is the first-team performance analyst and head of recruitment at the Barnet Football Club in North London, England. Stephen Lock for The National
Emirati Omar Yabroudi, pictured on October 10, 2014, is the first-team performance analyst and head of recruitment at the Barnet Football Club in North London, England. Stephen Lock for The National
Emirati Omar Yabroudi, pictured on October 10, 2014, is the first-team performance analyst and head of recruitment at the Barnet Football Club in North London, England. Stephen Lock for The National

Emirati blazing his own trail in English football


  • English
  • Arabic

Picture the scene. You are sitting in the cinema room at a well-appointed family home in Jumeirah, watching the television as West Ham United play Arsenal, when your mobile phone rings.

The name illuminated on the screen is someone who won the Uefa Champions League when you were six years old and whose CV reads like a who’s who of European football.

Edgar Davids is calling. Yes, the same Edgar Davids you had in your Fifa team, and who played for Ajax, Juventus and Spurs, among others, and he is calling because he has hand-picked you to join his staff for his first job as a football manager.

Yes, really. What would your reaction be?

Omar Yabroudi’s reaction? “I thought he wanted me to book him a table at Zuma,” he says, referring to a Japanese restaurant in the upscale London borough of Knightsbridge. “So I answered the call by just saying, ‘When and what time’?”

Omar’s relationship with the manager of the popular restaurant is such that he usually can book a table at short notice.

He can frequent Zuma because his father is chief executive of Dubai Contracting Company and has amassed a fortune sufficient that he could donate US$10 million (Dh367.3m) to his college alma mater, in Syracuse, New York, and $2m to the Cleveland Clinic.

“Edgar said, ‘What do you mean? I’m not calling you about Zuma’,” Omar says during a recent interview.

Davids was ringing Omar to tell him he was on the verge of being named manager of the English club Barnet, at the time a League Two team, the fourth division in England, and he wanted him to be his first-team performance analyst and head of recruitment.

Omar, 25, had an offer on the table to join the German side 1860 Munich, but he had formed such a bond with Davids while they were together at Crystal Palace that joining Barnet was an easy decision. It helped that Barnet were moving to the Hive, an international training venue in London.

A circuitous route

After graduating from Emirates International School, the youngest in a family of three brothers and a sister, Omar eschewed a job working for his father.

Instead he pursued his passion for football by studying for three years to earn a Sports Science and Football degree at Liverpool John Moores University.

“I’m very grateful to my father for allowing me to do something I am so passionate about,” he says about going to school in Liverpool.

“In the Arab culture a lot of kids have to follow in their father’s footsteps. If you want to be successful you are going to have to take risks, so it was definitely a big decision to leave home.”

The River Mersey is a world away from Dubai Creek and someone with Omar’s privileged upbringing could have turned up his nose at living in the north-west of England, especially during the cold winter months, but he “never complained”, he said. “It was different, an experience.”

From university, he joined the London side Crystal Palace, albeit with a little help from his father.

“Dubai Contract Company sponsored Crystal Palace and that’s how I got in,” Omar says. “At first, when I sent the email to Crystal Palace chairman [Phil Alexander] I didn’t want him to think, ‘OK, let’s take the money and find him something to do and then he can buzz off’.”

Talk of buying a large stake from Simon Jordan, then the owner of the club, when it was in the English Championship, was mooted in the Yabroudi household.

“Palace were in trouble at the time, and my father and I spotted their potential,” Omar says. “I said to him, ‘Why don’t we buy it?’ He said: ‘Now isn’t the right time. You need to gain more experience’.”

So instead of owning a large chunk of Palace, who are now in the Premier League, Omar joined the analysis department and began two seasons working with Davids and manager Dougie Freedman.

He left in July 2012 but still speaks to Freedman.

He recommended the UAE's Omar Abdulrahman to him while Freeman was in charge of Bolton Wanderers.

“I like to believe I left a good impression,” Omar says.

He clearly did with Davids and has continued to do so with the Dutchman’s replacement as manager of Barnet, Martin Allen.

“Omar has been absolutely fantastic,” Allen says. “He’s got great knowledge, great energy and a great work ethic. He’s been a revelation and a fantastic asset. I have no doubt he’ll be working at a much higher level one day.”

Working for free

Even more impressive is that Omar's dedication to carving out a career in English football is so strong that he offered to work unpaid for Barnet when the club slashed expenses after being relegated from the Football League.

“I didn’t want to move on as Martin was coming in and I wanted to work under him,” Omar says of the former Queens Park Rangers and West Ham midfielder.

“He explained to me the financial situation, but I just wanted to work alongside him.

“He is very appreciative. There is not one day when he doesn’t say thank you for what I’ve tried to do. I like to learn off other people and I want to build a career for myself in this industry.”

The reality is he does not have to. He lives in Ennismore Gardens, near to Knightsbridge, where properties range from £1 million (Dh5.9m) to £12m, and manages rental and refurbished properties in the area with his brothers Hasan and Faisal.

He is chauffeured to work and back in a silver Mercedes by a driver who wears a hat. No wonder Allen once described him as “the richest scout in world football”.

“I hope that’s not a nickname that will stick, but so be it if it is,” Omar says. “I’d rather be the most successful scout in the world.”

Omar is unassuming, yet that does not exempt him from the unforgiving nature of a football dressing room, where players are aware of the family’s financial means.

“There is always banter,” Omar says. “They always say, ‘What are you doing here?’ They ask me what am I going to buy them tomorrow and, if I wear something new they ask, ‘Where did you get that from? Harrods?’ It’s typical English banter.

“They know exactly who I am, and how down to earth I am and how passionate I am about what I do. They see me as someone who could have taken one route but who has decided to go down another because I love what I do.”

In addition to his encyclopaedic knowledge of the game – he has access to dossiers on more than 250,000 players – Omar endears himself to the Barnet squad by trading in the most unusual currency.

“Every time we won a game last season I would give them Fifa coins for their Ultimate Team,” Omar says. “I also gave a few players Fifa 15 [video games] before they officially came out.”

Omar is a more than a handy exponent of that game.

“I was in the top 200 in the world three years ago,” he says. “When I was 14 I finished second in a Fifa competition in Dubai and won Dh3,000.

“My cousin Abdul Aziz Al Sagha won it. It was the first and last time he beat me. I also won an Xbox 360 when I was 17 in a Fifa competition at the Virgin store at the Mall of the Emirates.

“More recently, in a Pro Evo Soccer tournament in England I reached the last 32 and got knocked out. I still remember it like yesterday as I conceded a last-minute goal.”

His memory is matched by his ambition. He is only the second Emirati to work in English football, following Khaldoon Al Mubarak, chairman of Manchester City. Omar's plan is to climb the ladder of football in England, and perhaps in his homeland, as well.

“I hope, one day, I can take my country to the World Cup as manager,” he says. “I hope to make my country proud and really please the great rulers who have helped our beautiful country prosper. I’m doing my coaching badges and it’s something I’m serious about.

“I know with time, with my personality, enthusiasm and knowledge, I’ll be successful and be a role model to other Emiratis.”

Factfile:

Born: October 20, 1989, Sharjah

Education: Liverpool John Moore University

Degree: Bachelor of Science and Football, 2010

Football experience:

2010: Accrington Stanley FC, internship

2010-12: Crystal Palace, peformance analyst; worked daily with Under 18 academy

2010-present: Barnet FC, first-team performance analyst and head of recruitment

The Emirati talks through two of his finds during his time at ­Barnet:

Luisa Villa (Spanish, midfielder, 25)

“I spotted him,” Omar says. “He made his debut for Racing Santander in 2010 against Barcelona. He came on in the 67th minute as a substitute. You could tell he had class about him, had that hunger. I was watching it on TV and followed him since. I knew he was a free agent [in the summer of 2013] and brought him [to Barnet] on trial. I believe he has the capability to be playing in League One.” Villa has seven goals in 13 appearances this season.

Keanu Marsh Brown (English, midfielder, 22)

“I followed him since his youth at Fulham, having done very well to progress through their reputable academy and feature regularly for the England U17s team. He made the bench during Fulham’s most successful season in football history, under Roy Hodgson. Keanu made the bench of the Uefa Cup knockout stages away to Shakhtar in February 2010, which earmarked his progression and potential.

“After having a stop-start season at Oldham and later Yeovil, where he was released, we brought him in for trial at the beginning of March 2013.

“He impressed us with the ingredients he had possessed to be a natural winger with his incredible pace and direct ability to beat his man one-on-one.

“He scored the winner on his debut as an impact sub against relegation rivals AFC Wimbledon on April 1, 2013, which was exactly how [player-manager] Edgar Davids planned it, tactically.”

sports@thenational.ae

Follow us on Twitter at @SprtNationalUAE

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

Aquaman%20and%20the%20Lost%20Kingdom
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20James%20Wan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Jason%20Mamoa%2C%20Patrick%20Wilson%2C%20Amber%20Heard%2C%20Yahya%20Abdul-Mateen%20II%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
LA LIGA FIXTURES

Friday

Granada v Real Betis (9.30pm)

Valencia v Levante (midnight)

Saturday

Espanyol v Alaves (4pm)

Celta Vigo v Villarreal (7pm)

Leganes v Real Valladolid (9.30pm)

Mallorca v Barcelona (midnight)

Sunday

Atletic Bilbao v Atletico Madrid (4pm)

Real Madrid v Eibar (9.30pm)

Real Sociedad v Osasuna (midnight)

Honeymoonish
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Elie%20El%20Samaan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENour%20Al%20Ghandour%2C%20Mahmoud%20Boushahri%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
SOUTH%20KOREA%20SQUAD
%3Cp%3E%0D%3Cstrong%3EGoalkeepers%3A%20%3C%2Fstrong%3EKim%20Seung-gyu%2C%20Jo%20Hyeon-woo%2C%20Song%20Bum-keun%0D%3Cbr%3E%3Cstrong%3EDefenders%3A%20%3C%2Fstrong%3EKim%20Young-gwon%2C%20Kim%20Min-jae%2C%20Jung%20Seung-hyun%2C%20Kim%20Ju-sung%2C%20Kim%20Ji-soo%2C%20Seol%20Young-woo%2C%20Kim%20Tae-hwan%2C%20Lee%20Ki-je%2C%20Kim%20Jin-su%0D%3Cbr%3E%3Cstrong%3EMidfielders%3A%20%3C%2Fstrong%3EPark%20Yong-woo%2C%20Hwang%20In-beom%2C%20Hong%20Hyun-seok%2C%20Lee%20Soon-min%2C%20Lee%20Jae-sung%2C%20Lee%20Kang-in%2C%20Son%20Heung-min%20(captain)%2C%20Jeong%20Woo-yeong%2C%20Moon%20Seon-min%2C%20Park%20Jin-seob%2C%20Yang%20Hyun-jun%0D%3Cbr%3E%3Cstrong%3EStrikers%3A%20%3C%2Fstrong%3EHwang%20Hee-chan%2C%20Cho%20Gue-sung%2C%20Oh%20Hyeon-gyu%3C%2Fp%3E%0A

At Eternity’s Gate

Director: Julian Schnabel

Starring: Willem Dafoe, Oscar Isaacs, Mads Mikkelsen

Three stars

Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press

AndhaDhun

Director: Sriram Raghavan

Producer: Matchbox Pictures, Viacom18

Cast: Ayushmann Khurrana, Tabu, Radhika Apte, Anil Dhawan

Rating: 3.5/5

MATCH INFO

Manchester United 1 (Greenwood 77')

Everton 1 (Lindelof 36' og)

RESULTS

5pm: Handicap (TB) Dh100,000, 2,400m
Winner: Recordman, Richard Mullen (jockey), Satish Seemar (trainer)

5.30pm: Wathba Stallions Cup Handicap (PA) Dh 70,000, 2,200m​​​​​​​
Winner: AF Taraha, Tadhg O’Shea, Ernst Oertel

6pm: Abu Dhabi Fillies Classic Prestige (PA) Dh110,000, 1,400m​​​​​​​
Winner: Dhafra, Fabrice Veron, Eric Lemartinel

6.30pm: Abu Dhabi Colts Classic Prestige (PA) Dh110,000, 1,400m​​​​​​​
Winner: Maqam, Fabrice Veron, Eric Lemartinel

7pm: Handicap (PA) Dh85,000, 1,600m​​​​​​​
Winner: AF Momtaz, Fernando Jara, Musabah Al Muhairi

7.30pm: Maiden (PA) Dh80,000, 1,600m​​​​​​​
Winner: Optimizm, Patrick Cosgrave, Abdallah Al Hammadi

Cricket World Cup League 2

UAE squad

Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind

Fixtures

Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE

Gifts exchanged
  • King Charles - replica of President Eisenhower Sword
  • Queen Camilla -  Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
  • Donald Trump - hand-bound leather book with Declaration of Independence
  • Melania Trump - personalised Anya Hindmarch handbag
Match info

Uefa Champions League Group B

Tottenham Hotspur 1 (Eriksen 80')
Inter Milan 0

EMIRATES'S%20REVISED%20A350%20DEPLOYMENT%20SCHEDULE
%3Cp%3E%3Cstrong%3EEdinburgh%3A%3C%2Fstrong%3E%20November%204%20%3Cem%3E(unchanged)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBahrain%3A%3C%2Fstrong%3E%20November%2015%20%3Cem%3E(from%20September%2015)%3C%2Fem%3E%3B%20second%20daily%20service%20from%20January%201%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EKuwait%3A%3C%2Fstrong%3E%20November%2015%20%3Cem%3E(from%20September%2016)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMumbai%3A%3C%2Fstrong%3E%20January%201%20%3Cem%3E(from%20October%2027)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAhmedabad%3A%3C%2Fstrong%3E%20January%201%20%3Cem%3E(from%20October%2027)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColombo%3A%3C%2Fstrong%3E%20January%202%20%3Cem%3E(from%20January%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMuscat%3A%3C%2Fstrong%3E%3Cem%3E%20%3C%2Fem%3EMarch%201%3Cem%3E%20(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ELyon%3A%3C%2Fstrong%3E%20March%201%20%3Cem%3E(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBologna%3A%3C%2Fstrong%3E%20March%201%20%3Cem%3E(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cem%3ESource%3A%20Emirates%3C%2Fem%3E%3C%2Fp%3E%0A
The biog

Name: Mohammed Imtiaz

From: Gujranwala, Pakistan

Arrived in the UAE: 1976

Favourite clothes to make: Suit

Cost of a hand-made suit: From Dh550

 

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

Formula Middle East Calendar (Formula Regional and Formula 4)
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
Wonka
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%C2%A0Paul%20King%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%C2%A0%3C%2Fstrong%3ETimothee%20Chalamet%2C%20Olivia%20Colman%2C%20Hugh%20Grant%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
Roll%20of%20Honour%2C%20men%E2%80%99s%20domestic%20rugby%20season
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Kanye%20West
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The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3Ethree%20three%20212.7kWh%20motors%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%201%2C000bhp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E15%2C600Nm%3Cbr%3E%3Cstrong%3ERange%3A%3C%2Fstrong%3E%20530km%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20Dh500%2C000%2B%20est%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Eearly%202023%3C%2Fp%3E%0A
RESULTS

5pm: Wathba Stallions Cup Maiden (PA) Dh 70,000 (Dirt) 1,600m
Winner: Samau Xmnsor, Abdul Aziz Al Balushi (jockey), Ibrahim Al Hadhrami (trainer)
5.30pm: Maiden (PA) Dh 70,000 (D) 1,600m
Winner: Ottoman, Szczepan Mazur, Abdallah Al Hammadi
6pm: Maiden (PA) Dh 70,000 (D) 1,800m
Winner: Sharkh, Patrick Cosgrave, Helal Al Alawi
6.30pm: Handicap (PA) Dh 85,000 (D) 1,800m
Winner: Yaraa, Fernando Jara, Majed Al Jahouri
7pm: Handicap (PA) Dh 70,000 (D) 2,000m
Winner: Maaly Al Reef, Bernardo Pinheiro, Abdallah Al Hammadi
7.30pm: Maiden (PA) Dh 70,000 (D) 1,000m
Winner: Jinjal, Fabrice Veron, Ahmed Al Shemaili
8pm: Handicap (PA) Dh 70,000 (D) 1,000m
Winner: Al Sail, Tadhg O’Shea, Ernst Oertel

ENGLAND SQUAD

Goalkeepers Pickford (Everton), Pope (Burnley), Henderson (Manchester United)

Defenders Alexander-Arnold (Liverpool), Chilwell (Chelsea), Coady (Wolves), Dier (Tottenham), Gomez (Liverpool), James (Chelsea), Keane (Everton), Maguire (Manchester United), Maitland-Niles (Arsenal), Mings (Aston Villa), Saka (Arsenal), Trippier (Atletico Madrid), Walker (Manchester City)

Midfielders: Foden (Manchester City), Henderson (Liverpool), Grealish (Aston Villa), Mount (Chelsea), Rice (West Ham), Ward-Prowse (Southampton), Winks (Tottenham)

Forwards: Abraham (Chelsea), Calvert-Lewin (Everton), Kane (Tottenham), Rashford (Manchester United), Sancho (Borussia Dortmund), Sterling (Manchester City)

RESULTS

5pm: Watha Stallions Cup Handicap (PA) Dh 70,000 (Dirt) 2,000m

Winner: Dalil De Carrere, Bernardo Pinheiro (jockey), Mohamed Daggash (trainer)

5.30pm: Maiden (TB) Dh 70,000 (D) 2,000m

Winner: Miracle Maker, Xavier Ziani, Salem bin Ghadayer

6pm: Maiden (PA) Dh 70,000 (D) 1,600m

Winner: Pharitz Al Denari, Bernardo Pinheiro, Mahmood Hussain

6.30pm: Maiden (PA) Dh 70,000 (D) 1,600m

Winner: Oss, Jesus Rosales, Abdallah Al Hammadi

7pm: Handicap (PA) Dh 70,000 (D) 1,400m

Winner: ES Nahawand, Fernando Jara, Mohamed Daggash

7.30pm: Maiden (PA) Dh 70,000 (D) 1,000m

Winner: AF Almajhaz, Abdul Aziz Al Balushi, Khalifa Al Neyadi

8pm: Maiden (PA) Dh 70,000 (D) 1,000m

Winner: AF Lewaa, Bernardo Pinheiro, Qaiss Aboud.

EGYPT SQUAD

Goalkeepers: Ahmed El Shennawy, Mohamed El Shennawy, Mohamed Abou-Gabal, Mahmoud Abdel Rehem "Genesh"
Defenders: Ahmed Elmohamady, Ahmed Hegazi, Omar Gaber, Ali Gazal, Ayman Ahsraf, Mahmoud Hamdy, Baher Elmohamady, Ahmed Ayman Mansour, Mahmoud Alaa, Ahmed Abou-Elfotouh
Midfielders: Walid Soliman, Abdallah El Said, Mohamed Elneny, Tarek Hamed, Mahmoud “Trezeguet” Hassan, Amr Warda, Nabil Emad
Forwards: Ahmed Ali, Mohamed Salah, Marwan Mohsen, Ahmed "Kouka" Hassan.

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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