The ease with which it all came together seemed to be everywhere around Phil Mickelson.
The leaderboard showed he led the Masters by two shots. On the 18th green, he had a putt he has seen and struck countless times before, a little left-to-right breaker for a birdie he did not need. And in the clubhouse and the locker room at Augusta National, taking off their spikes and moving on, were most of the men - Tiger Woods among them - who charged at Mickelson on a sparkling Sunday afternoon, only to fall away.
But when that final putt dropped, and Mickelson pumped his fist in celebration of his third Masters title, the ease of it all melted away.
At the side of the green, at a tournament for the first time in nearly a year, was Mickelson's wife, Amy. The hug they exchanged lasted more than half a minute. They have shared such congratulatory moments before, but not under these circumstances.
"It's been an emotional year," Mickelson said.
At the tournament at which Woods made a much-ballyhooed return to golf after a sex scandal crushed his image - and showed, particularly on Sunday, that he is unlikely to change on the golf course - Mickelson shot a final-round 67 to beat playing partner Lee Westwood by three shots.
He marked the win with the kind of signature shots that usually define the Masters, none better than an iron from the pine straw on the par-five 13th, and became the eighth man to win as many as three Masters.
Those kinds of statistics and moments would be how to define Mickelson's Masters victories in 2004 and 2006. But not now. This one will be defined by that hug with Amy at the side of the green, because last year she had breast cancer diagnosed, and Mickelson's life - in public and private - has changed since.
"He's been through hard times just recently," Westwood said, "and he deserves a break or two."
The tournament, for a time, seemed to be all about Woods, who has not won here since 2005, his longest drought since he turned professional. But he came here in different circumstances, dealing with the fall-out from and scrutiny of his own behaviour. And though he said it did not affect his golf, he was erratic on Sunday, closing with an all-over-the-place 69 that put him tied for fourth.
"It was a tough day today," Woods said. "Another terrible warm-up today. I didn't have it, and it was pretty evident."
As Woods drifted away, so, too, did other competitors who looked like they might stand up to Mickelson. KJ Choi made his first bogey on a birdie hole, the par-five 13th. He followed with a bogey at the 14th, and that put him three behind Mickelson - who still had birdie holes to play - and essentially out of it.
The man who made the real charge on the back side was Anthony Kim, who began the day seven strokes behind Westwood, the third-round leader, and closed with a 65 that featured a birdie-birdie-eagle-birdie stretch from 13 through 16. But Kim could not continue that flurry, and he posted a 12-under 276.
It was not nearly good enough. In very atypical Mickelson fashion, he did not even truly threaten to come back to his competitors. He opened with seven straight pars. Even when he hit a wayward tee shot or two, he did not make a single bogey. And when he looked ready to give back the tournament with a what-is-he-thinking moment, he came through.
On the par-five 13th, Mickelson held a one-shot lead over Choi. He yanked his drive right, into the pine needles. And he decided to rip a six-iron from 207 yards between some trees.
"The gap, it wasn't huge, but it was big enough for a ball to fit through," Mickelson said.
So he ripped it. And it landed four feet from the pin. He somehow missed the eagle putt, but the tap-in for a birdie gave him a two-shot lead.
"It's one of the few shots, really, that only Phil could pull off," said Westwood, who was behind another tree on the same hole. "I think most people would have just chipped that one out. But you know, that's what great players do."
Mickelson is now, without question, a great player - despite all the majors he has let slip away. Among his contemporaries, only Woods has more than four major championships. And more important: he did it with Amy at the side of the green.
"This has been a very special day," Mickelson said. "To have Amy and my kids here, to share it with, I can't put it into words. ... To be able to share this kind of joy means a lot to us."
* The Washington Post
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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.”
Manchester United v Club America
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Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Five famous companies founded by teens
There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:
- Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate.
- Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc.
- Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway.
- Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
- Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.