Louis van Gaal will attempt to guide the Netherlands to the 2022 World Cup in Qatar.
Louis van Gaal will attempt to guide the Netherlands to the 2022 World Cup in Qatar.
Louis van Gaal will attempt to guide the Netherlands to the 2022 World Cup in Qatar.
Louis van Gaal will attempt to guide the Netherlands to the 2022 World Cup in Qatar.

Netherlands appoint Louis van Gaal as national coach for a third time


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Louis van Gaal was named on Wednesday as the new coach of the Netherlands, signing a deal through to next year's World Cup final in Qatar, the Dutch football association said.

It is the third time he will take charge of the Dutch side, with his latest appointment coming less than a week before his 70th birthday.

"Dutch football has always been close to my heart and coaching the national team is, in my opinion, a key position for moving our football forward. Moreover, I consider it an honour to coach the Dutch national team," he said.

Van Gaal replaces Frank de Boer, who quit after the Netherlands lost to the Czech Republic in the last-16 of the European Championship in June.

"There is little time until the next qualifiers so the focus is therefore immediately 100% on players and what approach we will take. I have already spoken a number of players and together with the KNVB we have completed the technical staff. I look forward to doing the job together," he added.

Van Gaal will have former national team coach Danny Blind and Henk Fraser from Sparta Rotterdam as his assistants and Frans Hoek as his goalkeeper coach.

The Dutch play three World Cup qualifiers in the space of seven days in September, at Norway on September 1, and then home to Montenegro on September 4 and Turkey three days later.

In March, Turkey beat the Dutch 4-2 in Istanbul in their opening Group G game although De Boer’s team did bounce back in the next days to pick up six points at the expense of Latvia and Gibraltar.

"We have in the coming months ahead of us the assignment of qualifying for the World Cup. We have little preparation time and given this, we were looking for a coach with exceptional qualities, which can also quickly anticipate and for whom coaching the national team does not hold any secrets," said KNVB director Nico-Jan Hoogma in explaining the appointment.

"With his experience and record at the highest level, we identified Louis van Gaal, making quick contact and in recent days we have carefully put the dots on the I’s. We are happy that Louis has taken on this job."

Van Gaal was first appointed Dutch coach in September 2000 but resigned just over a year later when they failed to qualify for the 2002 World Cup.

He returned in August 2012 and led the Dutch national team to third place at the 2014 World Cup in Brazil.

In the last seven years since, the Dutch have had seven coaches - Guus Hiddink, Danny Blind, Fred Grim (acting), Dick Advocaat, Ronald Koeman, Dwight Lodeweges (acting) and De Boer - and failed to qualify for the 2018 World Cup in Russia.

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Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.

UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

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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Updated: August 04, 2021, 9:55 AM