Tanguy Ndombele walks off the pitch during Tottenham's FA Cup tie against Morecambe after being substituted by manager Antonio Conte. Reuters
Tanguy Ndombele walks off the pitch during Tottenham's FA Cup tie against Morecambe after being substituted by manager Antonio Conte. Reuters
Tanguy Ndombele walks off the pitch during Tottenham's FA Cup tie against Morecambe after being substituted by manager Antonio Conte. Reuters
Tanguy Ndombele walks off the pitch during Tottenham's FA Cup tie against Morecambe after being substituted by manager Antonio Conte. Reuters

Tanguy Ndombele looks destined for Tottenham exit after failing to impress Antonio Conte


Richard Jolly
  • English
  • Arabic

It is almost five years since Mauricio Pochettino named the five footballing geniuses he had worked with. It was before he coached Lionel Messi or Kylian Mbappe, but a former teammate of Diego Maradona and Ronaldinho named two extraordinary talents. His other three choices required a little more explanation: Jay-Jay Okocha, Ivan de la Pena and Mousa Dembele.

Dembele’s brilliance was not measured in goals or assists or trophies but in his ball-carrying ability, his capacity to take opponents out of the game by running past them. He provided the backdrop to Tottenham’s record signing.

In 2019, they committed £63 million ($85.6m) to buying Tanguy Ndombele, Pochettino’s designated Dembele replacement and a midfielder who, while Dembele is unique, shares some attributes. There are examples of elusiveness, of dextrous turns and lovely flicks. Ndombele can do things very few other footballers can. The infuriating part may be that he has rarely done what any of his four managers required.

The nadir of a Tottenham career when he has felt enigma rather more often than genius came on Sunday. Spurs were trailing to perhaps the smallest club in League One, Morecambe. Ndombele’s number was up. Rather than sprinting off to save every second, he dawdled as he made his departure, was booed by the fans and then headed straight down the tunnel.

The temptation is to say his Tottenham days ended in ignominy then. The reality is more complex. He can seem the problem that doesn’t go away. Jose Mourinho would probably have hoped to sell him in 2020. Ndombele wanted to leave last summer. Antonio Conte would surely welcome his departure now, but Ndombele has three-and-a-half years left on a deal worth £200,000 a week.

His purchase, at a pre-pandemic price, a month after Spurs played in a Champions League final, when Pochettino was still in charge, looks a throwback to an earlier era.

If Spurs’ three subsequent managers are all more pragmatic and he never appeared a natural fit for any of their teams, Conte has nonetheless brought the best from many an attack-minded midfielder, from Paul Pogba to Nicolo Barella. It is apparent Ndombele has not impressed him.

There was the Italian’s deliberately unilluminating answer last week when asked what Ndombele’s position at the club was. “He is a midfielder,” he said, choosing to give a literal answer rather than an explanation of his status. In November, he reflected that Ndombele needed to be a team player. That month, he played in the defeat to NS Mura, one of the most embarrassing results in Spurs’ history.

Tanguy Ndombele has shown glimpses of his talent for Tottenham but not often enough. EPA
Tanguy Ndombele has shown glimpses of his talent for Tottenham but not often enough. EPA

It was not his first taste of ignominy. Rewind to March 2020, when Ndombele was hauled off after 45 minutes against Burnley, and Mourinho said: “In the first half we didn’t have a midfield.” Ndombele, he said, had had enough time “to come to a different level.”

Some 22 months later, he has reached it too rarely. He scored Tottenham’s first goal in their 6-1 win at Manchester United. There was the remarkable flicked lob against Sheffield United. Too often, however, he has not been deemed fit enough to play 90 minutes. A player with six goals and five assists in 63 Premier League games has been too unproductive.

Conte was not convinced initially, preferring the workhorses Oliver Skipp and Pierre-Emile Hojbjerg, but Harry Winks has won him over: terrific against Liverpool and Southampton, he has played his way into Conte’s plans.

Conte was talking about the supporters rather than himself when he said of Ndombele: “You have to be good to change opinions.” Talent is not an issue; Ndombele has enough. But now plenty of minds are made up about him. The jeers showed as much.

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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.”

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Updated: January 10, 2022, 12:53 PM