Mercedes driver Lewis Hamilton arrives at Yas Marina Circuit in Abu Dhabi. AP Photo
Mercedes driver Lewis Hamilton arrives at Yas Marina Circuit in Abu Dhabi. AP Photo
Mercedes driver Lewis Hamilton arrives at Yas Marina Circuit in Abu Dhabi. AP Photo
Mercedes driver Lewis Hamilton arrives at Yas Marina Circuit in Abu Dhabi. AP Photo

F1 issues ban warning to Hamilton and Verstappen if any trouble at Abu Dhabi Grand Prix


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Lewis Hamilton and Max Verstappen have been officially warned they could be kicked out of the entire championship for foul play in Sunday’s Abu Dhabi Grand Prix showdown.

Race director Michael Masi, who is in charge of racing, issued the dictat on the eve of the hotly anticipated final round of the world championship.

In a detailed statement released Thursday afternoon he said the punishment could even include suspension from next year’s championship or more.

Other options open to the stewards would be to strip drivers of points as well.

In a comprehensive statement Masi warned that the same penalty could be dished out to the team as well as the driver.

The move comes amid increasingly desperate tactics in this year’s title chase and fears for the two driver’s safety.

Hamilton and Verstappen collided twice at the last round in Saudi Arabia. The duo went off the track while battling for position and the Dutchman was given a five-second penalty.

Although some onlookers believe Hamilton was partially to blame, he ran into the back of the Red Bull in a separate incident.Mercedes' world champion accused Verstappen of “brake-testing” him.

Verstappen insisted he had merely slowed, as instructed, to let Hamilton pass but stewards ruled his braking had been “erratic”.

For those actions the Dutchman was given another 10-second penalty.

Hamilton’s win means the duo go into Sunday’s race dead level on points – the first time that has happened in the sport since 1974.

But with one extra win (9–8) Verstappen would become champion if the duo crash out again.

But his tactics and the rising tension between Mercedes and Red Bull has resulted in Masi’s dictat.

It quoted the International Sporting Code line for line:

  • 9.3 Article 12.2.1 – Breach of Rules and in particular Article 12.2.1.l Any infringement of the principles of fairness in Competition, behaviour in an unsportsmanlike manner or attempt to influence the result of a Competition in a way that is contrary to sporting ethics.
  • 29.4 Article 12.4.5 - For all the FIA Championships, cups, challenges, trophies or series, the stewards may also decide to impose the following penalties: Suspension for one or more Competitions, withdrawal of points for the Championship, cup, challenge, trophy, series.”
  • 29.5 Article 12.4.5.a - Points should not be deducted separately from Drivers and Competitors, save in exceptional circumstances.

After the drama in Saudi Arabia, Damon Hill, the 1996 world champion, said the stewards need to make the possible punishments for rogue racing clear to the two drivers.

Hill lost out on the 1994 title when he crashed out with Michael Schumacher in Adelaide.

Three years later, Schumacher was stripped from the entire championship for driving into Jacques Villeneuve in the final round in an attempt to wrap up the title.

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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.”

Updated: December 09, 2021, 12:34 PM