Carlo Ancelotti has left Everton for Real Madrid. AP
Carlo Ancelotti has left Everton for Real Madrid. AP
Carlo Ancelotti has left Everton for Real Madrid. AP
Carlo Ancelotti has left Everton for Real Madrid. AP

Everton trapped in a cycle of instability following Carlo Ancelotti's departure for Real Madrid


Richard Jolly
  • English
  • Arabic

It was in 2016, when Carlo Ancelotti was Bayern Munich manager, that Farhad Moshiri explained Ronald Koeman’s appointment at Everton by describing the north-west of football as “the new Hollywood of football”.

Maybe the old Hollywood has struck back: while Koeman is now Barcelona manager, Real have rehired Ancelotti, plucking him from mid-table in the Premier League.

Two former Everton managers are in charge of arguably the world’s two biggest clubs while another, Roberto Martinez, leads the planet’s top-ranked international side, Belgium.

It poses questions if something is inherently wrong at Goodison Park. Perhaps none really failed at Everton, but the last manager to truly succeed there was David Moyes, who they recruited from Preston.

Ancelotti's sudden departure caps Everton's wretched 2021. Second on Boxing Day, they finished 10th. Their season had long appeared a case of what might have been; now his reign is one of what will never be.

The historic wins at Liverpool and Arsenal and the admirable victories at Tottenham, Leicester and West Ham were cancelled out by wretched home form. Their campaign became a false dawn.

There is a theory that, while he can win knockout competitions, Ancelotti’s lofty reputation disguises a habit of merely doing roughly as well as he should in league seasons with the players at his disposal. Arguably, though, Everton underachieved. They had standout triumphs over 90 minutes, but not over 38 games.

Now they have gone back to square one, searching for a manager again. Eighteen months ago, it felt surprising they had the pulling power to get Ancelotti. Now they lacked the appeal to keep him.

Eighteen months ago, the chairman, Bill Kenwright, advocated returning to Moyes. The less glamorous option, instead, outperformed Ancelotti this season and is likely to sign an extended deal with West Ham.

The choice of Eddie Howe as a boyhood Evertonian appeals to the sentimental Kenwright.

Moshiri, who exerts more influence, has an unfortunate habit of listening to agents, which may benefit Nuno Espirito Santo, famously super agent Jorge Mendes’ first client. It is a moot point if it works for Everton.

Certainly they have looked for managerial shortcuts in their quest to rival their north-west peers; and yet, damningly, they have no top-six finishes under Moshiri.

There has not been a coherent, consistent vision with very different appointments; the common denominator between Koeman, Allardyce and Ancelotti might be that each could be called a charismatic, experienced pragmatist. Marco Silva was supposed to be the rising star, but Everton fell on his watch.

Ancelotti's last game a 5-0 defeat at Man City: the ratings

  • MANCHESTER CITY RATINGS: Ederson 8 - After being named the Golden Glove winner for 2020/21, the Brazilian keeper made some key saves, including a penalty stop to deny Sigurdsson, to keep a clean sheet. EPA
    MANCHESTER CITY RATINGS: Ederson 8 - After being named the Golden Glove winner for 2020/21, the Brazilian keeper made some key saves, including a penalty stop to deny Sigurdsson, to keep a clean sheet. EPA
  • Kyle Walker 8 – The right-back marked his 125th Premier League appearance for City with some quality one-twos along the right wing. He also kept City’s defence tight and made some good tackles. EPA
    Kyle Walker 8 – The right-back marked his 125th Premier League appearance for City with some quality one-twos along the right wing. He also kept City’s defence tight and made some good tackles. EPA
  • Ruben Dias 7 – The FWA’s Player of the Year had a good game though not to his normal standards. He gave away a penalty when he brought down Richarlison in the box, though redeemed himself with a number of good blocks. EPA
    Ruben Dias 7 – The FWA’s Player of the Year had a good game though not to his normal standards. He gave away a penalty when he brought down Richarlison in the box, though redeemed himself with a number of good blocks. EPA
  • John Stones 7 – The former Everton defender had a solid game. He was Mr Reliable, making a number of interceptions and cancelling out Everton’s attacking efforts. Reuters
    John Stones 7 – The former Everton defender had a solid game. He was Mr Reliable, making a number of interceptions and cancelling out Everton’s attacking efforts. Reuters
  • Oleksandr Zinchenko 5 – The young Ukrainian had a disappointing game despite City keeping a clean sheet. He was guilty of a poor back pass that fed through Richarlison before the striker was brought down, and he also gave away the ball on a number of other occasions. AFP
    Oleksandr Zinchenko 5 – The young Ukrainian had a disappointing game despite City keeping a clean sheet. He was guilty of a poor back pass that fed through Richarlison before the striker was brought down, and he also gave away the ball on a number of other occasions. AFP
  • Fernandinho 8 – City’s Captain produced a classic performance in the defensive midfield role; he not only assisted Aguero from a stellar cross, but he also won the ball back in the build-up for two more City goals. EPA
    Fernandinho 8 – City’s Captain produced a classic performance in the defensive midfield role; he not only assisted Aguero from a stellar cross, but he also won the ball back in the build-up for two more City goals. EPA
  • Riyadh Mahrez 8 – The Algerian made his 227th Premier League appearance in style as he bagged an assist with some slick one-touch passes. He put on a show for the fans at the Etihad as he showed off his excellent first touch and crossing ability. Reuters
    Riyadh Mahrez 8 – The Algerian made his 227th Premier League appearance in style as he bagged an assist with some slick one-touch passes. He put on a show for the fans at the Etihad as he showed off his excellent first touch and crossing ability. Reuters
  • Kevin De Bruyne – 9 – The Belgian maestro bagged a brilliant goal from outside the box into the bottom corner to put City ahead, and showed us why he is one of the best players in the world. AFP
    Kevin De Bruyne – 9 – The Belgian maestro bagged a brilliant goal from outside the box into the bottom corner to put City ahead, and showed us why he is one of the best players in the world. AFP
  • Phil Foden 8 – City’s now consistent star showed Gareth Southgate why he should be in the England team as he put his footwork to good use when he scored a great goal early on in the second half. He was later taken off, presumably as a precaution ahead of the Champions League final. EPA
    Phil Foden 8 – City’s now consistent star showed Gareth Southgate why he should be in the England team as he put his footwork to good use when he scored a great goal early on in the second half. He was later taken off, presumably as a precaution ahead of the Champions League final. EPA
  • Raheem Sterling 7 – The 26-year-old wasn’t at his best. He didn’t make the most of his opportunities, though he did get an assist as he laid the ball off to Foden as City went 3-0 up. Reuters
    Raheem Sterling 7 – The 26-year-old wasn’t at his best. He didn’t make the most of his opportunities, though he did get an assist as he laid the ball off to Foden as City went 3-0 up. Reuters
  • Gabriel Jesus 8 – The Brazilian striker scored his 50th Premier League goal after a great run from near the hallway line as City struck on the counter. He could have also got himself an assist, too, but he shot instead of squaring to De Bruyne. Reuters
    Gabriel Jesus 8 – The Brazilian striker scored his 50th Premier League goal after a great run from near the hallway line as City struck on the counter. He could have also got himself an assist, too, but he shot instead of squaring to De Bruyne. Reuters
  • SUB: Rodri (Foden) 6 – The Spaniard was brought on to replace Foden, but he didn’t replace the quality. He missed a sitter in the middle of the box, skying his effort over the bar. Reuters
    SUB: Rodri (Foden) 6 – The Spaniard was brought on to replace Foden, but he didn’t replace the quality. He missed a sitter in the middle of the box, skying his effort over the bar. Reuters
  • SUB: Ferran Torres (Jesus) N/A – The young forward was looking for another goal to carry on his impressive form, but by the time he was brought on the win was already secured and he didn’t get many chances on the ball. EPA
    SUB: Ferran Torres (Jesus) N/A – The young forward was looking for another goal to carry on his impressive form, but by the time he was brought on the win was already secured and he didn’t get many chances on the ball. EPA
  • Sergio Aguero (Mahrez) 9 – In his final City game, the striker made sure to go out in style as he scored a sublime goal with the outside of his foot to put City 4-0 up. He then got on the end of a Fernandinho cross to head home and break another goalscoring record; he has now scored more goals for one Premier League team than any other player in history. Reuters
    Sergio Aguero (Mahrez) 9 – In his final City game, the striker made sure to go out in style as he scored a sublime goal with the outside of his foot to put City 4-0 up. He then got on the end of a Fernandinho cross to head home and break another goalscoring record; he has now scored more goals for one Premier League team than any other player in history. Reuters
  • EVERTON RATINGS: Jordan Pickford 6 – The keeper would have wanted more from his defence who left him with little chance of stopping City’s strikes. He did, however, make a number of smart saves to keep the scoreline from growing even further. EPA
    EVERTON RATINGS: Jordan Pickford 6 – The keeper would have wanted more from his defence who left him with little chance of stopping City’s strikes. He did, however, make a number of smart saves to keep the scoreline from growing even further. EPA
  • Lucas Digne 6 – The French full-back tried to produce a spark for his side. He had a good run forward but was met with few options. He also made a good tackle to deny City another counterattack. Reuters
    Lucas Digne 6 – The French full-back tried to produce a spark for his side. He had a good run forward but was met with few options. He also made a good tackle to deny City another counterattack. Reuters
  • Ben Godfrey 5 – The former Norwich defender made a number of sloppy passes, including a risky back pass to Pickford, which wasn’t appreciated by the keeper. Reuters
    Ben Godfrey 5 – The former Norwich defender made a number of sloppy passes, including a risky back pass to Pickford, which wasn’t appreciated by the keeper. Reuters
  • Michael Keane 4 – He made a number of mistakes, most notably giving the ball away, which Jesus seized to score. He also played Aguero onside as the striker made it 5-0. AFP
    Michael Keane 4 – He made a number of mistakes, most notably giving the ball away, which Jesus seized to score. He also played Aguero onside as the striker made it 5-0. AFP
  • Mason Holgate 5 – Had a poor game and was totally dominated by the skill and pace of Foden and Sterling on the left-hand side of the pitch. Ultimately, a day to forget. Reuters
    Mason Holgate 5 – Had a poor game and was totally dominated by the skill and pace of Foden and Sterling on the left-hand side of the pitch. Ultimately, a day to forget. Reuters
  • Allan 6 – The midfielder was let down by some of his teammates. He displayed some good control when on the ball, but City’s attack was too much for him to handle. AFP
    Allan 6 – The midfielder was let down by some of his teammates. He displayed some good control when on the ball, but City’s attack was too much for him to handle. AFP
  • Tom Davies 5 – Now in his sixth season at the club, he made some good passes, but overall didn’t have much of an impact. He was at fault for Sergio Aguero’s first goal, as he gave the ball away to Fernandinho. Reuters
    Tom Davies 5 – Now in his sixth season at the club, he made some good passes, but overall didn’t have much of an impact. He was at fault for Sergio Aguero’s first goal, as he gave the ball away to Fernandinho. Reuters
  • Abdoulaye Doucouré 5 – The former Watford man put in a poor display. He was guilty of a number of poor passes, and he also wasted a counterattack due to his reluctance to distribute the ball to his teammates quick enough. AFP
    Abdoulaye Doucouré 5 – The former Watford man put in a poor display. He was guilty of a number of poor passes, and he also wasted a counterattack due to his reluctance to distribute the ball to his teammates quick enough. AFP
  • Gylfi Sigurdsson 6 – The away skipper saw his penalty saved by Ederson, while his other shots either finished wide or were easily saved. EPA
    Gylfi Sigurdsson 6 – The away skipper saw his penalty saved by Ederson, while his other shots either finished wide or were easily saved. EPA
  • Richarlison 5 - He won a penalty which Sigurdsson saw saved. He did have a good chance after getting on the end of a counterattack, but he was tackled well by a defiant Stones. AFP
    Richarlison 5 - He won a penalty which Sigurdsson saw saved. He did have a good chance after getting on the end of a counterattack, but he was tackled well by a defiant Stones. AFP
  • Dominic Calvert-Lewin 6 – The Englishman is fighting to gain an England call up, but he didn’t have a great game here. He nearly scored but his effort rolled wide, and he didn’t have a great deal of service to work with. EPA
    Dominic Calvert-Lewin 6 – The Englishman is fighting to gain an England call up, but he didn’t have a great game here. He nearly scored but his effort rolled wide, and he didn’t have a great deal of service to work with. EPA
  • SUB: Alex Iwobi (Doucoure) 5 - The winger didn’t get many chances on the ball after being brought into the game, but he had a good run near the end. EPA
    SUB: Alex Iwobi (Doucoure) 5 - The winger didn’t get many chances on the ball after being brought into the game, but he had a good run near the end. EPA
  • SUBS: Bernard (Sugurdsson) 6 – Everton’s small playmaker did make a slight impact as he created a number of chances, but they were met with poor end product. His highlight was probably a slick through ball to Richarlison late on. Niels Nkounkou (Richarlison) N/A - The Frenchman had very little impact as he was brought on late and his side were dominated by the champions.
    SUBS: Bernard (Sugurdsson) 6 – Everton’s small playmaker did make a slight impact as he created a number of chances, but they were met with poor end product. His highlight was probably a slick through ball to Richarlison late on. Niels Nkounkou (Richarlison) N/A - The Frenchman had very little impact as he was brought on late and his side were dominated by the champions.

They are weighed down by past mistakes in the transfer market. That Ancelotti’s four main purchases were all at least qualified successes brought improvement when Everton had their best 11 available, but the fault lines in the squad were too often apparent. Also, the capacity to underperform and frustrate. His Everton veered between excellent and dismal.

His legacy will be slighter than Everton anticipated when they appointed him though Ben Godfrey and Abdoulaye Doucoure should be appreciated by Ancelotti’s successor; Allan, too, if an Ancelotti protege from his Napoli days stays.

James Rodriguez represented one of the most glamorous signings in Everton’s history and his best was brilliant but his commitment felt lacking when he departed before the end of the season, only to then fail to make Colombia’s Copa America squad. Without Ancelotti, does his long-term ally remain?

An expensively compiled mishmash of a squad presents a challenge to Ancelotti’s replacement.

There appears no ideal candidate – the case for Rafa Benitez is undermined by his Liverpool past – but even hiring someone with Ancelotti’s track record was no one-stop solution. He left 18 months into a 4.5 year-deal, leaving Everton trapped in a cycle of instability where the gulf between ambition and reality remains huge.

LEADERBOARD
%3Cp%3E-19%20T%20Fleetwood%20(Eng)%3B%20-18%20R%20McIlroy%20(NI)%2C%20T%20Lawrence%20(SA)%3B%20-16%20J%20Smith%3B%20-15%20F%20Molinari%20(Ita)%3B%20-14%20Z%20Lombard%20(SA)%2C%20S%20Crocker%20(US)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESelected%3A%20%3C%2Fstrong%3E-11%20A%20Meronk%20(Pol)%3B%20-10%20E%20Ferguson%20(Sco)%3B%20-8%20R%20Fox%20(NZ)%20-7%20L%20Donald%20(Eng)%3B%20-5%20T%20McKibbin%20(NI)%2C%20N%20Hoejgaard%20(Den)%3C%2Fp%3E%0A
War and the virus

Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Star%20Wars%3A%20Episode%20I%20%E2%80%93%20The%20Phantom%20Menace
%3Cp%3E%3Cstrong%3EDeveloper%3A%3C%2Fstrong%3E%20Big%20Ape%20Productions%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20LucasArts%3Cbr%3E%3Cstrong%3EConsoles%3A%3C%2Fstrong%3E%20PC%2C%20PlayStation%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
Young women have more “financial grit”, but fall behind on investing

In an October survey of young adults aged 16 to 25, Charles Schwab found young women are more driven to reach financial independence than young men (67 per cent versus. 58 per cent). They are more likely to take on extra work to make ends meet and see more value than men in creating a plan to achieve their financial goals. Yet, despite all these good ‘first’ measures, they are investing and saving less than young men – falling early into the financial gender gap.

While the women surveyed report spending 36 per cent less than men, they have far less savings than men ($1,267 versus $2,000) – a nearly 60 per cent difference.

In addition, twice as many young men as women say they would invest spare cash, and almost twice as many young men as women report having investment accounts (though most young adults do not invest at all). 

“Despite their good intentions, young women start to fall behind their male counterparts in savings and investing early on in life,” said Carrie Schwab-Pomerantz, senior vice president, Charles Schwab. “They start off showing a strong financial planning mindset, but there is still room for further education when it comes to managing their day-to-day finances.”

Ms Schwab-Pomerantz says parents should be conveying the same messages to boys and girls about money, but should tailor those conversations based on the individual and gender.

"Our study shows that while boys are spending more than girls, they also are saving more. Have open and honest conversations with your daughters about the wage and savings gap," she said. "Teach kids about the importance of investing – especially girls, who as we see in this study, aren’t investing as much. Part of being financially prepared is learning to make the most of your money, and that means investing early and consistently."

Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
MATCH INFO

BRIGHTON 0

MANCHESTER UNITED 3

McTominay 44'

Mata 73'

Pogba 80'

Qosty Byogaani

Starring: Hani Razmzi, Maya Nasir and Hassan Hosny

Four stars

The specs

Engine: 1.5-litre 4-cylinder petrol

Power: 154bhp

Torque: 250Nm

Transmission: 7-speed automatic with 8-speed sports option 

Price: From Dh79,600

On sale: Now

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.8-litre%204-cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E190hp%20at%205%2C200rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20320Nm%20from%201%2C800-5%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%3C%2Fstrong%3E%206.7L%2F100km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh111%2C195%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.

 

 

Company%C2%A0profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3Eamana%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2010%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Karim%20Farra%20and%20Ziad%20Aboujeb%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EUAE%3Cbr%3E%3Cstrong%3ERegulator%3A%20%3C%2Fstrong%3EDFSA%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinancial%20services%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E85%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESelf-funded%3Cbr%3E%3C%2Fp%3E%0A
World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

About Karol Nawrocki

• Supports military aid for Ukraine, unlike other eurosceptic leaders, but he will oppose its membership in western alliances.

• A nationalist, his campaign slogan was Poland First. "Let's help others, but let's take care of our own citizens first," he said on social media in April.

• Cultivates tough-guy image, posting videos of himself at shooting ranges and in boxing rings.

• Met Donald Trump at the White House and received his backing.

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.”

Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EDirect%20Debit%20System%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20Sept%202017%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20with%20a%20subsidiary%20in%20the%20UK%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20Undisclosed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Elaine%20Jones%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3C%2Fp%3E%0A
The biog

DOB: March 13, 1987
Place of birth: Jeddah, Saudi Arabia but lived in Virginia in the US and raised in Lebanon
School: ACS in Lebanon
University: BSA in Graphic Design at the American University of Beirut
MSA in Design Entrepreneurship at the School of Visual Arts in New York City
Nationality: Lebanese
Status: Single
Favourite thing to do: I really enjoy cycling, I was a participant in Cycling for Gaza for the second time this year

RoboCop%3A%20Rogue%20City
%3Cp%3E%3Cstrong%3EDeveloper%3A%20%3C%2Fstrong%3ETeyon%3Cbr%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3ENacon%3Cbr%3E%3Cstrong%3EConsole%3A%3C%2Fstrong%3E%20PlayStation%205%2C%20Xbox%20Series%20X%2FS%20and%20PC%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
The biog

Family: He is the youngest of five brothers, of whom two are dentists. 

Celebrities he worked on: Fabio Canavaro, Lojain Omran, RedOne, Saber Al Rabai.

Where he works: Liberty Dental Clinic