Go back 14 months. Derby’s manager, Gary Rowett, had been poached by Stoke City.
As County looked for a replacement, Harry Redknapp, who had a brief spell at Pride Park as football advisor in 2016, rang the owner Mel Morris.
Talk to Frank Lampard, he suggested. It would not commit Morris to anything, but they ought to have a chat.
Morris followed that advice. Lampard’s eloquence made him a persuasive candidate. Derby appointed Redknapp’s former West Ham charge and nephew. Lampard’s second managerial role also owes something to friends in high places.
In 2005, Roman Abramovich lent his yacht, Pelorus, to Lampard for a couple of weeks; it was a different sort of bonus for winning Chelsea’s first league title in 50 years.
Now Abramovich has given an old ally a different kind of reward: the post of Chelsea manager. Newly 41, Lampard is the youngest Englishman to take charge of any of the current top six since Glenn Hoddle in 1993.
After a solitary season of coaching, he is arguably the least experienced candidate granted a top job in England since Liverpool appointed Kenny Dalglish in 1985.
Lampard’s swift rise has been propelled by his connections. It is also a consequence of his personality. Vincent Kompany, another hugely impressive character, described him as “the natural fit” for Chelsea.
A generation of multi-millionaire players are moving into management but Lampard looks the best equipped to succeed.
In a sense, he was the greatest overachiever of his age, a lesser talent who, through determination and relentless shooting, became the paragon of consistency who was voted the second best player in the world in 2005.
The footballer who famously got an A in his Latin GCSE was also recorded, according to former Chelsea doctor Bryan English, with an IQ over 150; Lampard put that intelligence and those analytical skills to excellent use in displays of extreme efficiency. He was both a product of Jose Mourinho and a self-made player.
Lampard the manager is evidently influenced by Mourinho: not the embittered figure of Old Trafford, but the galvanising force of Stamford Bridge. The Portuguese was 41 when first appointed. He forged a bond with his players.
The sight of Lampard at the centre of the Derby celebrations after their play-off semi-final win over Leeds United in May suggested a similar band of brothers.
Lampard’s post-match ploy of bouncing in front of the fans became a trademark and another way of engendering unity. The man-management of players and crowd are reminiscent of his mentor.
The faith in youth – the major successes of his season at Derby were the young loanees Fikayo Tomori, Mason Mount and Harry Wilson plus the teenage full-back Jayden Bogle – may not be, but gave him a sheen of progressiveness. He eschewed more conservative choices.
Lampard has been a thinker, even if it is a stretch to call him a philosopher. His preference has been for a Mourinho-esque 4-3-3, but he has shown a flexibility of thought.
He outwitted Leeds' Marcelo Bielsa with his use of a midfield diamond. Equally, the embryonic manager's decision-making has not been faultless: arguably, he selected the wrong side in Derby County's play-off final defeat to Aston Villa.
It goes without saying that none of the three managers who actually did secure promotion – Norwich’s Daniel Farke, Sheffield United’s Chris Wilder and Villa’s Dean Smith – would not have been considered by Chelsea.
Lampard’s past and his contacts, his understanding of the club, its fans, demands and life as an elite player, have helped grant him the chance.
He has been picked on potential and on personality, rather than actual achievements. Yet none of that means the nepotistic choice is necessarily the wrong one.
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.”
JAPANESE GRAND PRIX INFO
Schedule (All times UAE)
First practice: Friday, 5-6.30am
Second practice: Friday, 9-10.30am
Third practice: Saturday, 7-8am
Qualifying: Saturday, 10-11am
Race: Sunday, 9am-midday
Race venue: Suzuka International Racing Course
Circuit Length: 5.807km
Number of Laps: 53
Watch live: beIN Sports HD
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
