Chelsea’s first Champions League-winning manager met an untimely end after defeat at Juventus. Roberto di Matteo was sacked in the early hours of the following day. It was an undistinguished end for the man who had taken over a troubled team during a season and steered them to glory in inspired fashion.
There are certain similarities with Thomas Tuchel, but also distinct differences. The German remains at Stamford Bridge. He has far more managerial pedigree than Di Matteo, who forever appeared a catalytic caretaker.
But this has been the worst week of his time at Chelsea and not merely because it is only the second time he has suffered back-to-back defeats. That those losses came to Manchester City and Juventus can make them both more understandable, yet feel more significant.
Tuchel has been defined by his mastery of big games. His three wins against Pep Guardiola lent him the reputation as an extraordinary tactician with the sure touch to select the right option at the right time. This week has featured rare missteps.
Tuchel’s Chelsea were the kings of the 1-0, profiting by their ability to take one major chance and limit their opponents to few. Now they have experienced what it is like to be Tucheled.
Their return of a solitary shot in target over those 180 minutes, a tame early effort by Romelu Lukaku in Italy, was testament to the sort of defensive frugality and positional nous that Chelsea usually demonstrate.
They have been beaten by Tuchel-type tactics, by City’s high press that penned them in, by the timeless excellence of Leonardo Bonucci, the Thiago Silva of Turin.
The most incision Chelsea showed came in Tuchel’s post-match interview, in which he labelled defeat “strange”, said his side were “not sharp enough,” “mentally slow,” and lacked rhythm, intensity and runners. All of which illustrated the problems go beyond Lukaku missing two second-half chances against Juve. The £98 million ($132m) man has largely been starved of service.
Chelsea’s start to the season remains impressive: they have only conceded two league goals, and just one in open play, and they have won away at Arsenal and Tottenham. But the underperforming section of the side is the creative department.
The goals of Lukaku and various centre-backs and wing-backs and the assists of Mateo Kovacic have camouflaged their underachievement to some extent. But the various attacking midfielders and wingers have a combined total of two goals, from Kai Havertz and Christian Pulisic, and two assists, courtesy of Mason Mount and Timo Werner, in the Premier and Champions Leagues this season.
Newcastle and Wolves have had more shots in the domestic competition. Some 47 players have made more Premier League chances than any of Chelsea’s supposed specialist creators.
Juventus 1 Chelsea 0: player ratings
Injuries mean Pulisic has barely been seen while Callum Hudson-Odoi’s opportunities in his favoured forward roles have been limited.
Hakim Ziyech has been especially poor but neither Werner nor Havertz has shed the inconsistency of his debut year. Havertz was substituted at half-time at Anfield, albeit after Chelsea went down to 10 men, and benched against City, signs potential isn’t being converted into enough performances.
Tuchel erred in going for 3-5-2 against City and, while Mount has not been at his best, his absence for the last two games has illustrated his importance, his ability to find space between the lines and connect different parts of the team. Without him, they have looked disjointed, predictable and prosaic. Chelsea’s attack was isolated against City. Tuchel felt too cautious as he fielded three defensive midfielders.
Lukaku prospered in a 3-5-2 for Inter Milan last season but their manager, Antonio Conte, said this week: “At Chelsea, they don’t quite understand how to use him.” That appeared harsh and Lukaku should score plenty of goals, but the reality is that Chelsea require more. Otherwise, their matches will remain games of small margins where a solitary defensive lapse comes at a huge cost. Even a team as defensively well-drilled as Chelsea cannot always keep clean sheets.
Tuchel’s attention to detail helped propel Chelsea to Champions League success, but without being prolific. Now others have been similarly flawless against them, it underlines why they need more flair and excitement. Tuchel’s Chelsea have been defined by control, but they ought to ally it with more creativity.
RESULTS
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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.”
Innotech Profile
Date started: 2013
Founder/CEO: Othman Al Mandhari
Based: Muscat, Oman
Sector: Additive manufacturing, 3D printing technologies
Size: 15 full-time employees
Stage: Seed stage and seeking Series A round of financing
Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now.
Persuasion
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Company profile
Company name: Dharma
Date started: 2018
Founders: Charaf El Mansouri, Nisma Benani, Leah Howe
Based: Abu Dhabi
Sector: TravelTech
Funding stage: Pre-series A
Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs
Bio:
Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour
Favourite Hobby: Serving poor people
Favourite Book: The Alchemist by Paulo Coelho
Favourite food: Fish and vegetables
Favourite place to visit: London
The biog
Name: Timothy Husband
Nationality: New Zealand
Education: Degree in zoology at The University of Sydney
Favourite book: Lemurs of Madagascar by Russell A Mittermeier
Favourite music: Billy Joel
Weekends and holidays: Talking about animals or visiting his farm in Australia
MATCH INFO
Uefa Champions League semi-final, first leg
Barcelona v Liverpool, Wednesday, 11pm (UAE).
Second leg
Liverpool v Barcelona, Tuesday, May 7, 11pm
Games on BeIN Sports
The cost of Covid testing around the world
Egypt
Dh514 for citizens; Dh865 for tourists
Information can be found through VFS Global.
Jordan
Dh212
Centres include the Speciality Hospital, which now offers drive-through testing.
Cambodia
Dh478
Travel tests are managed by the Ministry of Health and National Institute of Public Health.
Zanzibar
AED 295
Zanzibar Public Health Emergency Operations Centre, located within the Lumumba Secondary School compound.
Abu Dhabi
Dh85
Abu Dhabi’s Seha has test centres throughout the UAE.
UK
From Dh400
Heathrow Airport now offers drive through and clinic-based testing, starting from Dh400 and up to Dh500 for the PCR test.
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Company name: Play:Date
Launched: March 2017 on UAE Mother’s Day
Founder: Shamim Kassibawi
Based: Dubai with operations in the UAE and US
Sector: Tech
Size: 20 employees
Stage of funding: Seed
Investors: Three founders (two silent co-founders) and one venture capital fund
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Also on December 7 to 9, the third edition of the Gulf Car Festival (www.gulfcarfestival.com) will take over Dubai Festival City Mall, a new venue for the event. Last year's festival brought together about 900 cars worth more than Dh300 million from across the Emirates and wider Gulf region – and that first figure is set to swell by several hundred this time around, with between 1,000 and 1,200 cars expected. The first day is themed around American muscle; the second centres on supercars, exotics, European cars and classics; and the final day will major in JDM (Japanese domestic market) cars, tuned vehicles and trucks. Individuals and car clubs can register their vehicles, although the festival isn’t all static displays, with stunt drifting, a rev battle, car pulls and a burnout competition.
THE 12 BREAKAWAY CLUBS
England
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
Section 375
Cast: Akshaye Khanna, Richa Chadha, Meera Chopra & Rahul Bhat
Director: Ajay Bahl
Producers: Kumar Mangat Pathak, Abhishek Pathak & SCIPL
Rating: 3.5/5
MATCH INFO
Watford 1 (Deulofeu 80' p)
Chelsea 2 (Abraham 5', Pulisic 55')