Leeds United improved their prospects of avoiding relegation from the Premier League after staging a stunning comeback to clinch a 3-2 win at 10-man Wolverhampton Wanderers, a result manager Jesse Marsch said was "one of the best".
The Wolves dominated the first half and led 2-0 after goals from Jonny Otto and Trincao, while Leeds saw striker Patrick Bamford suffer an early injury.
However, the tide turned when Wolves' Mexican forward Raul Jimenez was sent off eight minutes into the second half after earning a second yellow card for colliding with Leeds goalkeeper Illan Meslier.
Leeds made the numerical advantage count, with two goals in the space of four minutes from Jack Harrison and Rodrigo that levelled the contest.
There was more drama in stoppage time as Wolves failed to clear a free kick from their area. Ayling lashed home an unstoppable shot in the 90th minute, sparking a touchline melee as tempers flared in both dugouts at Molineux.
Manager Marsch said Leeds "can control their own destiny" and retain their Premier League status. The win lifted Leeds seven points clear of the relegation zone.
"I just want us to stay true and stay calm to our process, to push ourselves every day, to finding a way," the manager said.
"I believe we have the quality of people and of players that we can control our own destiny and find a way to not just survive in this situation, but thrive in it. That's the goal."
Leeds' fightback was all the more impressive after they had been forced to withdraw four players through injury, three of them before half-time. Bamford aggravated a foot problem, Diego Llorente had a back spasm, Mateusz Klich suffered concussion and Meslier was forced off with a bruised hip after his collision with Jimenez.
Marsch said he told his players Leeds' win was one of the best he had ever seen.
"I told them this was not just one of the best results in my career, but that I've seen in the game, really," said the American.
"It's two games in a row now," Marsch added. "It's about the character and the hearts of our men. They deserve all the credit. They're the ones who went for it and believe in themselves and moment after moment pushed the game and we're going to continue to draw on that mindset."
Wolves coach Bruno Lage was not happy with the decision to send off Jimenez, feeling the second yellow card was harsh.
"Everyone saw what happened and now they have the chance to watch on TV," Lage told the BBC. "It's a body contact, Raul tried to win the ball. Bad decision - and he [referee Kevin Friend] continued with the opinion he made a good decision.
"In the 45 minutes I think we were the better team. We were a much better team than our opponents. I am very proud of my players."
Race card
6.30pm: Emirates Holidays Maiden (TB), Dh82,500 (Dirt), 1,900m
7.05pm: Arabian Adventures Maiden (TB), Dh82,500 (D), 1,200m
7.40pm: Emirates Skywards Handicap (TB), Dh82,500 (D), 1,200m
8.15pm: Emirates Airline Conditions (TB), Dh120,000 (D), 1,400m
8.50pm: Emirates Sky Cargo (TB), Dh92,500 (D)1,400m
9.15pm: Emirates.com (TB), Dh95,000 (D), 2,000m
Tips for used car buyers
- Choose cars with GCC specifications
- Get a service history for cars less than five years old
- Don’t go cheap on the inspection
- Check for oil leaks
- Do a Google search on the standard problems for your car model
- Do your due diligence. Get a transfer of ownership done at an official RTA centre
- Check the vehicle’s condition. You don’t want to buy a car that’s a good deal but ends up costing you Dh10,000 in repairs every month
- Validate warranty and service contracts with the relevant agency and and make sure they are valid when ownership is transferred
- If you are planning to sell the car soon, buy one with a good resale value. The two most popular cars in the UAE are black or white in colour and other colours are harder to sell
Tarek Kabrit, chief executive of Seez, and Imad Hammad, chief executive and co-founder of CarSwitch.com
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.”
