Steve Hansen has leapt to Warren Gatland's defence after the New Zealand Herald mocked up the British and Irish Lions head coach as a cartoon clown.
The New Zealand coach described the move as "really disappointing" and underlined his respect for Gatland as the rival head coaches prepare for battle in Saturday's second Test at Westpac Stadium.
Hansen's comments at his pre-match press conference on Thursday served as a welcome respite after previous verbal jousting.
Gatland earlier this week laughed off New Zealand's daily newspaper publishing a second clown caricature of him in six months.
And he admitted he was nonplussed by Hansen calling a radio station to object to the Lions boss criticising New Zealand's "dangerous" targeting of scrum-half Conor Murray during last weekend's first Test in Auckland.
"You guys are having a field day at the moment between Gats and I, so I am not feeding it," Hansen told reporters at New Zealand's team hotel in central Wellington.
"You are alluding to the cartoon? You may as well go straight there. It makes it easier to answer the question.
"I think it is really disappointing. It's one thing to have a bit of banter and then you guys beef it up to make it bigger than it really is. I have heard you say that I don't like him and we won't have a beer.
"I have got a lot of respect for him. I think he is a good coach. I have got a lot of respect for the Lions, they are a good team.
"To come out and do that, you are ridiculing somebody that doesn't deserve it.
"At the end of the day, we are all coaches trying to do what we think is right.
"Sometimes, people don't always agree with what we do, but that's okay, you are allowed to have your opinion.
"But to ridicule someone is not right. It's a bit disappointing, really.
"I read somewhere where I lashed out at Warren Gatland. I haven't lashed out at Warren Gatland at all. I have got a lot of respect for him, I am looking forward to having a beer with him and a chuckle about life.
"We've got a lot of common interests. He likes racing horses, so do I; he coaches Wales, I've been through that experience myself.
"It's the media that ramp it up because it sells you guys newspapers. Who am I to say 'stop it'? But I do look at it and think that's not actually how it went."
Hansen, meanwhile, confirmed that full-back Ben Smith will not be involved in the remainder of the Lions Test series after suffering concussion last weekend.
Israel Dagg has moved from the wing to replace Smith, with Waisake Naholo wearing the No 14 shirt on Saturday and centre Anton Lienert-Brown taking over from hamstring injury victim Ryan Crotty.
Smith has been concussed previously this year, and Hansen added: "Even if he was (fit), we wouldn't be playing him. We have decided already, regardless of how he goes through the protocols, that we won't play him next week.
"Long-term concerns have been allayed. We are just going to take our time with him and get him back where we need him to be so he is comfortable, we are comfortable.
"If he passes the protocols, he could play, but we are just of the opinion that he's had a couple (of concussions), so let's just be a little bit conservative and not play him."
* Press Association
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Tank warfare
Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks.
“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.
“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”
MATCH INFO
Liverpool 2 (Van Dijk 18', 24')
Brighton 1 (Dunk 79')
Red card: Alisson (Liverpool)
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
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.”
Results
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UAE currency: the story behind the money in your pockets