• Lyon's French forward Alexandre Lacazette celebrates after scoring his team's second goal during the 2-1 win over Ajaccio at The Groupama Stadium in Decines-Charpieu, central-eastern France, on August 5, 2022. AFP
    Lyon's French forward Alexandre Lacazette celebrates after scoring his team's second goal during the 2-1 win over Ajaccio at The Groupama Stadium in Decines-Charpieu, central-eastern France, on August 5, 2022. AFP
  • Lyon's French forward Alexandre Lacazette celebrates after scoring his team's second goal from the penalty spot. AFP
    Lyon's French forward Alexandre Lacazette celebrates after scoring his team's second goal from the penalty spot. AFP
  • Lyon's French forward Alexandre Lacazette kicks to score his team's second goal on a penalty during the French Ligue 1 football match between Olympique Lyonnais (OL) and Ajaccio at The Groupama Stadium in Decines-Charpieu, central-eastern France, on August 5, 2022. (Photo by JEAN-PHILIPPE KSIAZEK / AFP)
    Lyon's French forward Alexandre Lacazette kicks to score his team's second goal on a penalty during the French Ligue 1 football match between Olympique Lyonnais (OL) and Ajaccio at The Groupama Stadium in Decines-Charpieu, central-eastern France, on August 5, 2022. (Photo by JEAN-PHILIPPE KSIAZEK / AFP)
  • Ajaccio's French defender Oumar Gonzalez and Lyon's French forward Alexandre Lacazette fight for the ball. AFP
    Ajaccio's French defender Oumar Gonzalez and Lyon's French forward Alexandre Lacazette fight for the ball. AFP
  • Ajaccio's Ivorian defender Ismael Diallo and Lyon's Brazilian forward Tete fight for the ball. AFP
    Ajaccio's Ivorian defender Ismael Diallo and Lyon's Brazilian forward Tete fight for the ball. AFP
  • Lyon's Brazilian forward Tete scores his team's first goal. AFP
    Lyon's Brazilian forward Tete scores his team's first goal. AFP
  • Ajaccio's French midfielder Yanis Cimignani fights for the ball with Lyon's French midfielder Corentin Tolisso. AFP
    Ajaccio's French midfielder Yanis Cimignani fights for the ball with Lyon's French midfielder Corentin Tolisso. AFP
  • Lyon's Brazilian midfielder Thiago Mendes (front) fights for the ball with Ajaccio's Congolese forward Bevic Moussiti-Oko. AFP
    Lyon's Brazilian midfielder Thiago Mendes (front) fights for the ball with Ajaccio's Congolese forward Bevic Moussiti-Oko. AFP
  • Lyon's Cameroonian forward Karl Toko Ekambi fights for the ball with Ajaccio's French forward Mounaim El Idrissy. AFP
    Lyon's Cameroonian forward Karl Toko Ekambi fights for the ball with Ajaccio's French forward Mounaim El Idrissy. AFP
  • Lyon's Brazilian midfielder Lucas Paqueta fights for the ball with Ajaccio's French midfielder Thomas Mangani. AFP
    Lyon's Brazilian midfielder Lucas Paqueta fights for the ball with Ajaccio's French midfielder Thomas Mangani. AFP

Lyon coach lauds 'importance of Lacazette' as returning striker nets in win over Ajaccio


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Alexandre Lacazette marked his return to Lyon with what proved the winning goal as the hosts edged promoted Ajaccio 2-1 in a hard-fought Ligue 1 opener on Friday in which both teams finished the match with 10 men.

Former France international Lacazette rejoined on a free transfer this summer five years after he signed for English side Arsenal in a then club record fee of £46.5 million ($58 million) deal.

The 31-year-old striker, who signed a three year contract with the club where he made his name after coming through the youth system, scored from the penalty spot after 21 minutes.

Lacazette also played a role in the opener sending through a cross from Johann Lepenant for Brazilian Tete to score after 11 minutes.

Former Shakhtar Donetsk striker Tete, who joined Lyon after the Russian invasion of Ukraine, then won the penalty from a Cedric Avinel foul.

That allowed Lacazette to make it 2-0 for his 101st goal with Lyon 10 minutes later.

But Lyon struggled in defence with goalkeeper Anthony Lopes sent off following a foul on Mounaim El Idrissy in the penalty area at the half-hour mark.

Thomas Mangani pulled one back for the visitors, firing in the resulting penalty past substitute goalkeeper Remy Riou.

"We had to win the first game at home," said Lyon coach Peter Bosz. "We could see the importance of Alexandre Lacazette, the respect of the opponent for him, the support of the fans are a good thing, but he can do better.

"We were leading 2-0 after twenty minutes playing well. The sending off after thirty minutes changed a lot of things. Luckily they also got a red card which helped us."

Ajaccio's Romain Hamouma was sent off just before the break after picking up a second yellow card for a hand in the face of Lucas Paqueta.

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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: August 06, 2022, 7:09 AM