Lando Norris took pole position for the Italian Grand Prix on Saturday as the McLaren driver gave himself a great chance to further cut Max Verstappen's Formula One championship lead.
Trailing by 70 points in the drivers' standings, Norris clocked one minute, 19.327 seconds in a one-two with teammate Oscar Piastri, with George Russell third for Mercedes and Ferrari's Charles Leclerc and Carlos Sainz fourth and fifth with an upgraded car.
Red Bull's Verstappen qualified only seventh, one place behind Mercedes' seven-times world champion Lewis Hamilton who had been fastest in final practice.
Briton Norris claimed his fourth pole of the season in a car which looks capable of a similar result as at last weekend's Dutch GP, when he romped home to victory nearly 23 seconds ahead of the three-time champion Verstappen.
The Dutch driver was complaining about a lack of grip for the entire session, at one point describing his car as "shocking".
"To have a first and second when the field is as tight as it has been all weekend is a little bit of a surprise, but a nice one," said Norris, who is now targeting his third career win.
"My lap, it hurts me to say it, was not a great lap. My first one was. But still good enough for pole and still very happy.
"There are a lot of quick drivers behind in quick cars, so I am not expecting an easy race. Plenty of question marks but a lot of excitement, I'm sure."
Russell, who was 0.113secs off pole, said: "A little bit better than I expected. It was a really tough session. Not too far behind the McLarens, they are so fast at the moment, I am super-happy with third.
"It's going to be a tight battle, everyone is so close out there, so exciting for F1, everyone's been waiting for this."
As for Verstappen, the Dutchman was left perplexed about what happened. "Q3 was very bad on both of my tyre sets. I just picked up a lot of understeer so I couldn't attack any corners any more," he said.
"I had to back it out a lot mid-corner and you lose a lot of lap time like that.
"Somehow in Q2 it wasn’t that bad. I did a 1:19.6 at that point and we were almost the quickest.
"We know our limitations and problems but at that point I think we had it fairly under control. But I went into Q3 and the balance was completely out, and I don't really understand how that happened."
Hamilton was left berating himself rather than his car after more qualifying struggles. He is racing for the last time at Monza as a Mercedes driver and Ferrari fans will be keen to see how the 39-year-old will perform on Sunday ahead of his move to the Scuderia at the end of the year.
Mercedes announced on Saturday morning that Hamilton would be replaced by teenage rookie Andrea Kimi Antonelli, who has had an eventful weekend after crashing and damaging Russell's car in Friday's first practice.
"I'm just not very good, simple as that," Hamilton said. "I'm just not very good at qualifying. I can't put a lap together and it's unbelievably frustrating. I'll keep working at it and that's all I can do."
Sunday's race at the 'Temple of Speed' near Milan could be a tight battle between the top four teams. "I'm just not very good, simple as that," said the Briton who will race for Ferrari next season.
McLaren are only 30 points behind champions and leaders Red Bull and could make significant inroads in that constructors' battle.
Mexican Sergio Perez qualified eighth for Red Bull with Alex Albon ninth for Williams and Nico Hulkenberg completing the top 10 for Haas.
F1's Argentine newcomer Franco Colapinto, replacing Logan Sargeant at Williams, qualified 18th and ahead of both Saubers.
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Pakistan v New Zealand Test series
Pakistan: Sarfraz (c), Hafeez, Imam, Azhar, Sohail, Shafiq, Azam, Saad, Yasir, Asif, Abbas, Hassan, Afridi, Ashraf, Hamza
New Zealand: Williamson (c), Blundell, Boult, De Grandhomme, Henry, Latham, Nicholls, Ajaz, Raval, Sodhi, Somerville, Southee, Taylor, Wagner
Umpires: Bruce Oxerford (AUS) and Ian Gould (ENG); TV umpire: Paul Reiffel (AUS); Match referee: David Boon (AUS)
Tickets and schedule: Entry is free for all spectators. Gates open at 9am. Play commences at 10am
The specs
Engine: 2.0-litre 4-cyl, 48V hybrid
Transmission: eight-speed automatic
Power: 325bhp
Torque: 450Nm
Price: Dh289,000
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Kathryn Hawkes of House of Hawkes on being a good guest (because we’ve all had bad ones)
- Arrive with a thank you gift, or make sure you have one for your host by the time you leave.
- Offer to buy groceries, cook them a meal or take your hosts out for dinner.
- Help out around the house.
- Entertain yourself so that your hosts don’t feel that they constantly need to.
- Leave no trace of your stay – if you’ve borrowed a book, return it to where you found it.
- Offer to strip the bed before you go.
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
Year of birth: 1988
Place of birth: Baghdad
Education: PhD student and co-researcher at Greifswald University, Germany
Hobbies: Ping Pong, swimming, reading
