Lionel Scaloni took over as Argentina manager in 2018. AP
Lionel Scaloni took over as Argentina manager in 2018. AP
Lionel Scaloni took over as Argentina manager in 2018. AP
Lionel Scaloni took over as Argentina manager in 2018. AP

World Cup-winner Lionel Scaloni could quit as Argentina manager


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Lionel Scaloni has revealed that might quit as Argentina manager despite guiding the team to Copa America and World Cup glory during his five years in charge.

The 45-year-old took over as manager in 2018 and led Argentina to the South American title in 2021 – their first major trophy since the 1986 World Cup – before the Albiceleste landed their third global title in Qatar last year.

So Scaloni's comments about his future, which came after Argentina's 1-0 victory over Brazil at Rio de Janeiro's famous Maracana stadium, were something of a surprise.

It was a win that kept Argentina at the top of the South American World Cup 2026 qualifying group, two points ahead of Uruguay, who had beaten Scaloni's side 2-0 on Friday.

That defeat was Argentina's first since lifting the World Cup at Lusail Stadium in Doha in December 2022.

“Argentina needs a coach who has all the energy possible and who is well,” said Scaloni after win in Rio.

“I need to stop the ball and start thinking, I have a lot of things to think about during this time.

“It's not goodbye or anything, but I need to think because the bar is very high and it's complicated to keep going and it's complicated to keep winning.

“These guys are making it difficult, so I need to think about it for a while. I will talk to the FA president and the players afterwards.”

His comments clearly came as a shock to his own players. “We are sure and hope that Scaloni will continue,” said defender Cristian Romero.

“Let’s see now he will have time to think; he didn’t say anything in the dressing room about it. We will try to convince him.”

Scaloni succeeded Jorge Sampaoli as Argentina manager in August 2018 after a brief spell in charge of the under-20 side before leading the senior team to a memorable period of success.

After beating France in the Qatar World Cup final, a tearful Scaloni described the victory as “a historic moment for our country”.

  • Lionel Messi watches on from the pitch as the match is delayed due to incidents in the stands. Getty Images
    Lionel Messi watches on from the pitch as the match is delayed due to incidents in the stands. Getty Images
  • Members of the Brazilian police stand by after a clash between fans prior to a 2026 World Cup qualifiers match between Brazil and Argentina at Maracana stadium in Rio de Janeiro, Brazil on November 21, 2023. EPA
    Members of the Brazilian police stand by after a clash between fans prior to a 2026 World Cup qualifiers match between Brazil and Argentina at Maracana stadium in Rio de Janeiro, Brazil on November 21, 2023. EPA
  • Argentina fans clash with Brazilian police before the start of the match at Maracana Stadium. AFP
    Argentina fans clash with Brazilian police before the start of the match at Maracana Stadium. AFP
  • Fans clash in the stands with security staff causing a delay to the start of the match. Reuters
    Fans clash in the stands with security staff causing a delay to the start of the match. Reuters
  • Argentina fans celebrate after the match as Brazilian police stand by from the pitch. Reuters
    Argentina fans celebrate after the match as Brazilian police stand by from the pitch. Reuters
  • People take cover under stairs due to a clash between fans inside the Maracana stadium. EPA
    People take cover under stairs due to a clash between fans inside the Maracana stadium. EPA
  • Police officers armed with batons clash with fans as the match is delayed due to the incidents. Getty Images
    Police officers armed with batons clash with fans as the match is delayed due to the incidents. Getty Images
  • Argentina players attempt to diffuse the situation as police officers clash with fans in the stands. Getty Images
    Argentina players attempt to diffuse the situation as police officers clash with fans in the stands. Getty Images
  • Lionel Messi and his Argentina teammates react as police officers clash with fans. Getty Images
    Lionel Messi and his Argentina teammates react as police officers clash with fans. Getty Images
  • Argentina goalkeeper Emiliano Martinez leaves the pitch into the dressing room as the match was delayed due to incidents in the stands. Getty Images
    Argentina goalkeeper Emiliano Martinez leaves the pitch into the dressing room as the match was delayed due to incidents in the stands. Getty Images
  • Argentina fans clash with Brazilian police before the start of the match. AFP
    Argentina fans clash with Brazilian police before the start of the match. AFP
  • A stand seat is thrown at police officers as tempers boil over inside Maracana Stadium. Getty Images
    A stand seat is thrown at police officers as tempers boil over inside Maracana Stadium. Getty Images
  • Emiliano Martinez reaches into the crowd in an attempt to calm the situation. Reuters
    Emiliano Martinez reaches into the crowd in an attempt to calm the situation. Reuters
  • A security guard turns to look at Lionel Messi as the clashes continue in the stands. Reuters
    A security guard turns to look at Lionel Messi as the clashes continue in the stands. Reuters
  • Brazilian police attempt to restrain an Argentina fan as fights break out in the stands. AFP
    Brazilian police attempt to restrain an Argentina fan as fights break out in the stands. AFP
  • Fans of Argentina clash with Brazilian police before the start of the 2026 World Cup qualifier. AFP
    Fans of Argentina clash with Brazilian police before the start of the 2026 World Cup qualifier. AFP
  • Lionel Messi in discussions with officials as the match is delayed because of crowd trouble. Reuters
    Lionel Messi in discussions with officials as the match is delayed because of crowd trouble. Reuters
  • Brazil coach Fernando Diniz talks with Argentina's physiotherapist Marcelo D'Andrea after clashes erupted in the stands. AFP
    Brazil coach Fernando Diniz talks with Argentina's physiotherapist Marcelo D'Andrea after clashes erupted in the stands. AFP
  • Lionel Messi leaves the pitch as the match was delayed due to incidents in the stands. Getty Images
    Lionel Messi leaves the pitch as the match was delayed due to incidents in the stands. Getty Images
  • Lionel Messi walks through the tunnel to return to the dressing room after crowd trouble delays the start of the match. Getty Images
    Lionel Messi walks through the tunnel to return to the dressing room after crowd trouble delays the start of the match. Getty Images

“I cannot believe that we have suffered so much in a perfect game” he said. “Unbelievable, but this team responds to everything.

“I am proud of the work they did. It is an exciting group. With the blows we received today and we keep taking, with the draws, this makes you emotional. I want to tell people to enjoy.”

Friday's game in Brazil – which was Argentina's first ever away win over their bitter rivals in World Cup qualifying – was marred by violent clashes between police and supporters.

Argentina captain Lionel captain Lionel Messi said the violence in the stands “could have ended in tragedy”.

Brazil captain Marquinhos had joined the Argentina players on the pitch in an attempt to calm the situation, and the defender admitted he was concerned about the clashes.

“We were worried about the families, women and children that we were seeing in panic up there in the stands,” he said. “Down on the pitch it was hard for us to understand what was going on, it was a very scary situation.”

The match eventually kicked-off 30 minutes late with defender Nicolas Otamendi's goal in the 63rd minute securing Argentina all three points.

Newcastle United midfielder Joelinton was sent off for hitting Rodrigo de Paul just three minutes after coming on a substitute.

Argentina manager Lionel Scaloni after beating France to win the 2022 World Cup in Qatar. Getty Images
Argentina manager Lionel Scaloni after beating France to win the 2022 World Cup in Qatar. Getty Images
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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: November 22, 2023, 5:15 PM