Radamel Falcao has only four goals in 21 appearances for Manchester United. Alex Livesey / Getty Images
Radamel Falcao has only four goals in 21 appearances for Manchester United. Alex Livesey / Getty Images

Radamel Falcao’s former agent: Louis van Gaal ‘a coach that kills your confidence’



Radamel Falcao's former agent has criticised Manchester United manager Louis van Gaal over his handling of the Colombian striker.

The 29-year-old signed for United in a big-money season-long loan deal from AS Monaco on transfer deadline day in September, but has struggled to make an impact at Old Trafford, and was selected to turn out for the Under 21 team against Tottenham Hotspur last week.

Silvano Espindola has told AS Colombia that Falcao, who has scored only four goals in 21 appearances for United, did not understand the decision, and is deeply upset by the position he has found himself in.

United manager Van Gaal has insisted the decision to select him was not a humiliating one for Falcao, but Espindola remains unconvinced.

“He is a coach that kills your confidence,” Espindola said. “He destroys it. He is working with other great players that were at a great level and with Van Gaal they are now less so.”

Espindola said his former client was clearly upset when he and the frontman spoke ahead of the match, in which Falcao struggled and was replaced after 71 minutes.

“I am not going to say that he feels happy because he isn’t. We talk a lot and we cry together,” Espindola said. “It’s not an easy situation because every player wants to play and every goalscorer wants to score goals.”

United paid a reported £6 million (Dh22m) loan fee for Falcao, as well as covering his hefty wage, and must decide whether to take up a £43.5 million option to make the deal permanent in the summer.

Falcao missed much of last season and the World Cup with a knee ligament injury – the second of his career – but Espindola does not believe that is a factor in his Old Trafford struggles.

“The injury is forgotten,” he said. “The main problem is the intensity of the game. He has to get this intensity back. The problem isn’t fear of another injury, it’s a lack of rhythm.”

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The biog

Hometown: Cairo

Age: 37

Favourite TV series: The Handmaid’s Tale, Black Mirror

Favourite anime series: Death Note, One Piece and Hellsing

Favourite book: Designing Brand Identity, Fifth Edition

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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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The story of Edge

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.

It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.

Edge has an annual revenue of $5 billion and employs more than 12,000 people.

Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab