Claudio Ranieri turns 64 in October, or, if you were to take literally a spiteful remark once made about him by Chelsea manager Jose Mourinho, he will celebrate his 78th birthday then.
Ranieri is, by any measure, a veteran coach with a very long list of past employers.
Yet there is nothing jaded about the Italian, which is partly why he keeps getting interviewed for jobs and impressing the chairmen on the other side of the table.
Leicester City scored four goals on Saturday, as Ranieri, appointed last month, took charge of a Premier League match for the first time in 11 years.
Safe to say the response in some quarters was of surprise. Leicester had scraped clear of relegation last May and the decision to replace Nigel Pearson, an abrasive figure, with Ranieri was not greeted with universal applause.
There is a perception of him in England, where he managed Chelsea between 2000 and 2004, that he is not a man to inspire.
The idea seems misplaced. Ranieri may not have the rugged, gritty demeanour of a Pearson, but this is a coach who knows the game extensively, approaches his tasks with rigour and evidently studies carefully the ways to manage and motivate athletes 40 years younger than he is.
Leicester’s players ran out onto the pitch to the music of rock band Kasabian ahead of the 4-2 win over Sunderland. Ranieri, with a self-deprecating smile, acknowledged that Kasabian, who he knew were a Leicester group, might not be his own natural choice of soundtrack, but if it stirred them up, all the better.
The anecdote reminded of a line he used at Juventus once.
They were at Real Madrid’s Bernabeu for a Uefa Champions League match and, because they had been out of Europe for a while, and indeed in Serie B only 18 months earlier, were considered the underdogs.
“You know this place from your PlayStations,” Ranieri told the younger players ahead of kick off to sooth their nerves. “Now, you are really here, playing in the real Bernabeu. Just carrying on doing what we have been doing.”
Juve went out and beat the Spanish champions.
At Juventus, Ranieri was given the task of consolidating the team after the punitive relegation of 2006. He took them to third in Serie A and, though he lost his job just before the end of his second season, they followed that up with second place.
His career features just too many runners-up spots for comfort; he has never been a champion, apart from guiding Monaco to the Ligue 2 title in 2012. He had come to Monaco, like at Juve, to resurrect a fallen club.
With Roma, in his native city, he won a runners-up medal in both the Coppa Italia and Serie A in 2010, after a rousing season spiced up by his rivalry with Mourinho, who was then at treble-winning Inter Milan.
Mourinho’s antagonism towards Ranieri dates back to when the Portuguese succeeded the Roman at Chelsea and immediately directed barbs at the ordinariness of his predecessor compared with his own “special” qualities.
When they were both in Italy, Mourinho derided Ranieri’s age: “How old is he anyway? 70?”
With the trademark twinkle in his eye, Ranieri told journalists on his 58th birthday that he had just turned 71.
Mourinho won the Premier League in his first season at Chelsea. Ranieri, a year earlier, had finished second with them. He had also overseen a bad collapse in a Champions League semi-final against Monaco, making questionable substitutions, criticised by his players.
His habit of restless team changes had already earned him the nickname "The Tinkerman", and on that night in Monte Carlo, it became a term of anything but endearment.
When things go wrong for Ranieri, they have often done so dramatically. A spell at Inter spiralled downwards quickly; likewise the tail end of his second stint at Valencia, where his first spell had been a success.
His last job, with the Greece national team, was brief and stained by a home defeat against the Faroe Islands.
Leicester will not be looking for a runners-up spot in the Premier League from Ranieri, but something more like the job he did at Parma in 2007, staving off the drop in unlikely circumstances.
Keep them up and English football generally may come to appreciate him more, enjoy his animated features, a stark contrast to the granite, sometimes gauche Pearson, and see his real enthusiasm for the Premier League.
sports@thenational.ae
Follow us on Twitter at @NatSportUAE
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.”
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Neo%20Mobility%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20February%202023%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Abhishek%20Shah%20and%20Anish%20Garg%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Logistics%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Delta%20Corp%2C%20Pyse%20Sustainability%20Fund%2C%20angel%20investors%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5