Paris St Germain coach Mauricio Pochettino on his debut as boss. Reuters
Paris St Germain coach Mauricio Pochettino on his debut as boss. Reuters
Paris St Germain coach Mauricio Pochettino on his debut as boss. Reuters
Paris St Germain coach Mauricio Pochettino on his debut as boss. Reuters

Mauricio Pochettino can't hide frustrations as PSG fall flat on his opening night


Ian Hawkey
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In some respects, it was as if he had hardly been away.

Mauricio Pochettino, dressed in charcoal, was animated on the touchline, and made no pretence of hiding his frustrations or articulating his team’s shortcomings when he spoke after the final whistle. He was disappointed that a set of players who only recently reached their first Champions League final could only draw 1-1 with a side of far more modest resources.

Fourteen months ago, Pochettino was manager for Tottenham Hotspur 1, Sheffield United 1, a result so dispiriting after a run of poor form that he was sacked by Spurs, even though the memory of their maiden European Cup final was still fresh in his and the club’s memory.

On Wednesday night, for his debut as coach in his new job, he oversaw Saint-Etienne 1, Paris Saint-Germain 1, a flat evening for the Paris club who finished second in their first-ever Champions League final last August.

So far, so similar. But the sport in which Pochettino, 48, has risen so far, so quickly as a coach has transformed since he was cultivating his strong emotional bond with the supporters of Spurs. Nearly 60,000 witnessed the last match of his five-and-a-half years there, in a brand new stadium built for noise and big numbers.

Now welcome to the new normal. Nobody other than support staff, substitutes and a few reporters saw PSG hang on for their point at Saint-Etienne in a stadium that prides itself on its rousing atmosphere, an arena so quiet under Covid-19 restrictions that even the soft-voiced Saint-Etienne head coach, Claude Puel, can make his instructions heard in both penalty areas.

Puel, whose team lag in 14th place in Ligue 1, might have spoiled Pochettino’s debut night even further had striker Denis Bouanga’s second-half shot not ricocheted off the PSG crossbar.

“Saint-Etienne deserved their point,” said Pochettino, “we struggled to finish, and we were up against a well-organised side.” Pochettino would expect that from Puel. They know each others’ methods and styles well enough, from three seasons as adversaries in the Premier League.

Paris St Germain's Kylian Mbappe had a disappointing night. Getty
Paris St Germain's Kylian Mbappe had a disappointing night. Getty

Puel’s Leicester City and the Argentinian’s Tottenham once shared in a nine-goal thriller, Spurs edging it 5-4. Both men used to manage Southampton, where Puel learned fast how respected Pochettino had been there.

The Frenchman never quite matched popular Poch’s legacy. But in French football, Puel is a seasoned expert and he set up his Saint-Etienne shrewdly for the newcomer to Ligue 1 management. PSG wobbled against set-pieces and in the face of focused pressing, conceding a goal before they registered the first of the Pochettino era.

To the new head coach’s relief, Moise Kean, on loan at PSG from Everton, equalised Romain Hamouma’s opener quickly. Pochettino was pleased with application of the Italy striker, as he was with Kean’s compatriot Marco Verratti, whose more advanced position in midfield looks like a point of difference between Pochettino and his sacked predecessor Thomas Tuchel.

“Marco has the freedom and the ability to play a number of roles, because of his ability to read a game,” said Pochettino. “He gives us a lot, and, given the circumstances, he was a positive influence.”

PSG players celebrate after Moise Kean scored their equaliser at Saint-Etienne. AP
PSG players celebrate after Moise Kean scored their equaliser at Saint-Etienne. AP

Those circumstances are not so much the hurried adaptation of a new coach, who only signed his 18-month contract with wealthy, ambitious PSG four days before the trip to St-Etienne, but the long injury list that greeted Pochettino.

Neymar is still recovering from an ankle problem, and PSG missed the injured Pascal Kimbembe from a central defence that looked anxious and relied on two excellent saves from Keylor Navas. A further six senior outfield players were also ruled out with fitness issues.

Nor, on the night, did Kylian Mbappe find his match-winning panache. Pochettino had close-up sight of Mbappe’s searing pace, and the striker helped set up Kean’s goal, but the France superstar was not in his best groove. L’Equipe, the sports newspaper, gave Mbappe a three-out-of-ten for his performance.

PSG, French champions seven times in the last eight years, moved up to second in the table with their point, but have slipped further off the lead with Olympique Lyonnais’ 3-2 victory over Lens, Lyon moving three points ahead.

“There is a lot of work to do in defence and in attack and not a lot of time,” said Pochettino, looking ahead to Saturday’s hosting of 10th-placed Brest. “But I am not worried.”

He relished being on a touchline again, though he misses an audience watching it live. “It’s nice to be back after 14 months without being involved. But it’s a strange feeling without fans, without any public. I hadn’t experienced that before. You miss the warmth.”

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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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Price, base / as tested Dh220,000 / Dh320,000

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Transmission 10-speed automatic

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The biog

Title: General Practitioner with a speciality in cardiology

Previous jobs: Worked in well-known hospitals Jaslok and Breach Candy in Mumbai, India

Education: Medical degree from the Government Medical College in Nagpur

How it all began: opened his first clinic in Ajman in 1993

Family: a 90-year-old mother, wife and two daughters

Remembers a time when medicines from India were purchased per kilo