Another game for Jose Mourinho, another rivalry that has turned personal. This time, though, it passed off with a reasonable level of bonhomie, as the Serie A coach who holds the greatest respect among his peers declared himself very much second-best to Mourinho's Inter Milan at the weekend.
"Poor me," quipped Massimiliano Allegri after his Cagliari side had been well beaten at the San Siro by the champions. "Jose Mourinho has just enjoyed 3-0 worth of revenge on me!"
Allegri was referring to his position on top of this month's poll of coaches in Italy to elect who was their Manager of the Year.
Allegri's work in hauling Cagliari up into the upper half of last season's Serie A table got him the vote, ahead of the Portuguese coach who led Inter to the scudetto in his first season.
Mourinho had given off sufficient indications that he felt miffed not to win the award.
But he would also know he is not universally liked by his fellow professionals, largely because he so frequently snipes at them in the media.
Allegri's magnanimous posture defused any instinct Mourinho might have had to try that trick. What also counts against Mourinho is that under his charge, Inter have not made conspicuous progress, at least in terms of concrete achievements. The 2009 title was no more than they had managed under Roberto Mancini in 2007 and 2008.
And in Europe in 2009, they fell out of the Champions League at the last 16 stage, earlier than Mancini's Inter tended to do. Room for improvement, then.
What the next few weeks will tell us is how Mourinho shapes up not just as a match-by-match tactician - and he was a good enough one to win the 2004 Champions League with Porto - but also as a strategist, a manager who sees longer term how to shape a squad for the better. Right now, he is looking very good in those terms.
In Italian football, the buying and selling of players is not entirely down to the coach. At Inter, however, the boss is seldom timid in volunteering his opinion and has been given a long leash on matters of recruitment.
For his first campaign, he argued for strengthening the squad with wingers, Amantino Mancini, from Roma, and Ricardo Quaresma, from Porto. Neither succeeded, and the club have recorded big financial losses on those investments, being unable to sell either.
Quaresma spent a period on loan at Chelsea, while Mancini has joined neighbours AC Milan on loan. Better yields have come from Sulley Muntari, the Ghanaian midfielder who joined Inter in 2008 from Portsmouth, after Mourinho was unable to persuade Chelsea's Frank Lampard to follow him to the San Siro.
But what has happened since paints the self-styled "Special One" in a far more perceptive light. Wesley Sneijder, who completed a two-match ban on Sunday, has been influential and added a missing dimension to Inter's attack. Gabriel Milito, signed from Genoa, struck his 14th goal of the season against Cagliari.
Samuel Eto'o, signed from Barcelona, helped set up the first goal. Thiago Motta, also signed from Genoa and once of Barcelona, gave steel to the midfield.
Of the 13 players used against Cagliari, six were Mourinho signings, including two arrivals in the latest transfer window, Macdonald Mariga, the Kenyan midfielder hired from Parma, and Goran Pandev, the striker whose contractual dispute with Lazio was settled in December, effectively making the Macedonian a free agent, whom Inter gave a five-year deal.
The true test of these extra resources, however, will come when the Champions League resumes.
@Email:sports@thenational.ae
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A