Portuguese midfielder Ruben Neves has moved to Al Hilal from Wolverhampton Wanderers on a three-year deal. Getty
Portuguese midfielder Ruben Neves has moved to Al Hilal from Wolverhampton Wanderers on a three-year deal. Getty
Portuguese midfielder Ruben Neves has moved to Al Hilal from Wolverhampton Wanderers on a three-year deal. Getty
Portuguese midfielder Ruben Neves has moved to Al Hilal from Wolverhampton Wanderers on a three-year deal. Getty

Ruben Neves: It was chance to give my family life I have always dreamt of for them


John McAuley
  • English
  • Arabic

Ruben Neves says his family were at the forefront of his decision to continue his career in Saudi Arabia with Al Hilal.

The Portuguese international, 26, made the lucrative move last month from Premier League side Wolves, signing a three-year contract with the Saudi Pro League club. The transfer fee was reported to be £47 million ($60m).

In his first official interview at Hilal, released on Sunday night, Neves told of his reasons for signing for the record 18-time Saudi champions.

"It was a good project,” he said. ”The club and the league presented a good project. My agent had the chance to speak to a lot of people involved in the Asian leagues and it was an easy decision to make.

"I wanted something new for my career, something else for my career. And when this chance came, I spoke with my family and everyone was really happy to come, so that was easy for me.

"The main factor was my family and the chance to give them the life I have always dreamt of for them – that was the biggest reason for me to not have any doubts.

"I have three kids and a lovely wife, and I need to take care of them, that is the biggest trophy in my career."

Neves added of the record four-time Asian champions: “But, of course, like I told you, the project of Al Hilal being the best club in Asia, the biggest club in Asia … all the fans as well.

“Since the news started to come my social media went crazy. It was unbelievable to see the amount of fans Al Hilal have and how passionate they are for football, so it was a good decision for me and my family, I’m sure.”

Last season, Hilal finished third in the league, 13 points off champions Al Ittihad, while they were also runners-up in both the Fifa Club World Cup and Asian Champions League.

“My biggest goal is giving my best, giving my 100 per cent to help the team to achieve their goals,” Neves said. “Because, as we all know, we are the biggest club in Asia, so we'll fight for every single title, and we'll try to do our best to win every single one as well.

“That's my main goal: win titles, win trophies with the team, and to give the fans reasons to be even more happy at the end of the season.”

Neves represents one of a number of top-level players to have already traded Europe for Saudi Arabia this summer. At Hilal, he has been joined by defender Kalidou Koulibaly and midfielder Sergej Milinkovic-Savic, from Chelsea and Lazio, respectively.

Meanwhile, Ittihad have signed Ballon d’Or winner Karim Benzema and 2018 World Cup winner N’Golo Kante alongside Celtic’s Portuguese winger Jota.

Other players to have arrived in the Pro League include former Liverpool forward Roberto Firmino, goalkeeper Edouard Mendy from Chelsea – the duo are now teammates at Al Ahli – and 2022/23 Uefa Champions League runner-up Marcelo Brozovic. The midfielder signed for Cristiano Ronaldo’s Al Nassr from Inter Milan.

"It’s really good for everyone involved in the league,” Neves said. “The main goal of the league is to improve, and they are doing a great job. They are bringing some fantastic players to the league, so it will be interesting to play here, with all the players we are seeing signing for every single club in the league.

"It is not just big clubs; I have seen some of my friends from Portugal sign for other clubs, so it will be interesting, because like I told you, the project is really good and in this first year we are already seeing the work of the people to improve the league as maximum as they can.”

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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: July 17, 2023, 4:31 PM