“None at all,” came Steven Gerrard’s emphatic response. He was asked on Sunday if he would have any sentimental thoughts on his return to Anfield on Saturday. He delivered the correct response for Aston Villa. The implication was that his focus will purely be on them.
Rewind six years and his verdict was a little different. “Being manager of Liverpool Football Club is a huge job,” Gerrard wrote in his second autobiography. “It is a lovely dream … I simply have no idea if it is realistic to even talk about it. It’s still quite fun to fantasise a little.”
His subsequent foray into management has made the conversations realistic. Gerrard makes his first trip to Anfield as an opponent with three wins in four games as Villa manager, as the man who masterminded Rangers’ first title win in a decade and as the subject of an irresistible narrative. Kenny Dalglish, his major rival for the title of Liverpool’s greatest ever player, managed them. Since Gerrard brought his ferocious drive to the dugout, there has been the question if he will gravitate to the home technical area at Anfield.
Jurgen Klopp has helped fuel it. He gave Gerrard his first coaching job, with Liverpool’s academy. Gerrard’s fondness for 4-3-3 can be Klopp-esque. In 2019, the German said: “If you ask who should follow me, I'd say Stevie.”
It had not escaped attention that Gerrard’s Rangers contract, like Klopp’s current deal at Anfield, was due to expire in 2024. Upon joining Villa, he insisted he did not see it as a staging post on a route back home. “You'll never hear me say this is a stepping stone,” he said.
Villa down Leicester - in pictures
But ambition may have brought some changes of heart and not merely because, in his autobiography, he nominated Jamie Carragher and Xabi Alonso as team-mates who could be his assistant; instead it is Gary McAllister. He joined LA Galaxy in 2015 in part because he did not want to play against Liverpool. He will manage against them.
A homecoming promises to be a unique occasion and, for Gerrard, an obstacle course. One of his mentors, Gerard Houllier, erred when waving to the Kop as Villa manager; some felt his standing never recovered with their fans. Gerrard is guaranteed a still greater reception from the Liverpool public.
He never got the golden goodbye he deserved. His Liverpool career ended in anti-climax, in a 6-1 defeat to Stoke, their worst league result since 1963. His final Anfield appearance was a defeat to Crystal Palace. It illustrated the way a player who won a solitary trophy in his final nine seasons became a self-sacrificial figure in Liverpool’s wilderness years, turning down Real Madrid to stay amid often worse teams.
Loyalty was not rewarded by silverware: Anfield staged Gerrard’s infamous slip against Chelsea in 2014, just when it appeared he would finally win the Premier League; instead Klopp ended Liverpool’s long wait.
But Anfield witnessed 104 of his 186 Liverpool goals, including perhaps the greatest: the 2004 howitzer against Olympiakos to keep them in a Champions League that they won thanks in part to Gerrard’s tour de force in Istanbul.
It was an illustration of Gerrard’s status as a big-game player – no one else has scored in all of the Champions League, Uefa Cup, FA Cup and League Cup finals – and of his capacity for greatness. Very few footballers have ever had his ability to win games single-handedly.
Gerrard was the Liverpudlian and the Liverpool fan with the habit of making the extraordinary happen. It is why, a couple of months ago, when Klopp asked which player from Liverpool’s past he would like to manage, he replied: “That’s easy. It’s Stevie.”
AC Milan v Liverpool ratings
Abu Dhabi Sustainability Week
The specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 849Nm
Range: 456km
Price: from Dh437,900
On sale: now
The specs
Engine: 5.0-litre supercharged V8
Transmission: Eight-speed auto
Power: 575bhp
Torque: 700Nm
Price: Dh554,000
On sale: now
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.”
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
The Specs
Price, base Dh379,000
Engine 2.9-litre, twin-turbo V6
Gearbox eight-speed automatic
Power 503bhp
Torque 443Nm
On sale now
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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