• Novak Djokovic during practice ahead of the Dubai Duty Free Tennis Championships on Sunday, February 20, 2022. Reuters
    Novak Djokovic during practice ahead of the Dubai Duty Free Tennis Championships on Sunday, February 20, 2022. Reuters
  • Novak Djokovic during a training session ahead of the Dubai Duty Free Tennis Championships. EPA
    Novak Djokovic during a training session ahead of the Dubai Duty Free Tennis Championships. EPA
  • Novak Djokovic trains in Dubai on Sunday. EPA
    Novak Djokovic trains in Dubai on Sunday. EPA
  • Novak Djokovic trains for the Dubai Duty Free Tennis Championships at the Dubai Duty Free Tennis Stadium. Getty
    Novak Djokovic trains for the Dubai Duty Free Tennis Championships at the Dubai Duty Free Tennis Stadium. Getty
  • Novak Djokovic after a training session in Dubai. AFP
    Novak Djokovic after a training session in Dubai. AFP
  • Novak Djokovic prepares for the Dubai Duty Free Tennis Championships. EPA
    Novak Djokovic prepares for the Dubai Duty Free Tennis Championships. EPA
  • Djokovic at the Dubai Duty Free Tennis Stadium. Reuters
    Djokovic at the Dubai Duty Free Tennis Stadium. Reuters
  • Novak Djokovic trains in Dubai. AP
    Novak Djokovic trains in Dubai. AP

Novak Djokovic confirms split with long-time coach Marian Vajda


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Novak Djokovic has confirmed he has split with long-time coach Marian Vajda at the end of the 2021 season.

The world No 1 made the announcement on his website, ending one of tennis's most enduring and successful partnerships.

Slovak Vajda has been a near-constant throughout Djokovic's career, helping the Serb win 20 Grand Slam titles on his way to becoming one of the greatest players of all time.

“Marian has been by my side during the most important and memorable moments in my career," Djokovic said on his website.

"Together we have achieved some incredible things and I am very grateful for his friendship and dedication over the last 15 years.

"While he might be leaving the professional team he will always be family and I can’t thank him enough for all he has done."

The pair parted ways after the ATP Finals in Turin, Djokovic's website said. Vajda headed a backroom team that together helped Djokovic sit at the top of the ATP rankings for an unprecedented 361 weeks.

“During my time with Novak, I have been lucky to watch him transform into the player he is today," said Vajda.

"I will look back on our time together with immense pride and am so very thankful for the success we have achieved.

"I remain his biggest support on and off the court and look forward to new challenges."

Djokovic lost his world No 1 ranking to Russian Daniil Medvedev this week after suffering a shock 6-4, 7-6 defeat by Czech qualifier Jiri Vesely in the Dubai Duty Free Tennis Championships quarter-finals.

It was Djokovic's first tournament of the year after he was unable to defend his Australian Open title in January and compete for a record 21st Grand Slam after being deported from the country over his lack of Covid-19 vaccination.

Spanish rival Rafa Nadal won the Melbourne Park tournament and took a record 21st Grand Slam crown in his absence.

Croatian former Wimbledon champion Goran Ivanisevic joined Djokovic's coaching team in 2019 and will continue to work closely with the Serb.

Djokovic's 20 Grand Slams

  • 2008: Novak Djokovic beats Jo-Wilfried Tsonga 4–6, 6–4, 6–3, 7–6 to win the Australian Open.
    2008: Novak Djokovic beats Jo-Wilfried Tsonga 4–6, 6–4, 6–3, 7–6 to win the Australian Open.
  • 2011: Djokovic beats Andy Murray 6–4, 6–2, 6–3 to win the Australian Open .
    2011: Djokovic beats Andy Murray 6–4, 6–2, 6–3 to win the Australian Open .
  • 2011: Novak Djokovic beats Rafael Nadal 6–4, 6–1, 1–6, 6–3 to win Wimbledon.
    2011: Novak Djokovic beats Rafael Nadal 6–4, 6–1, 1–6, 6–3 to win Wimbledon.
  • 2011: Djokovic beats Rafael Nadal 6–2, 6–4, 6–7, 6–1 to win the US Open.
    2011: Djokovic beats Rafael Nadal 6–2, 6–4, 6–7, 6–1 to win the US Open.
  • 2012: Djokovic beats Rafael Nadal 5–7, 6–4, 6–2, 6–7, 7–5 to win the Australian Open.
    2012: Djokovic beats Rafael Nadal 5–7, 6–4, 6–2, 6–7, 7–5 to win the Australian Open.
  • 2013: Djokovic beats Andy Murray 6–7, 7–6, 6–3, 6–2 to win the Australian Open.
    2013: Djokovic beats Andy Murray 6–7, 7–6, 6–3, 6–2 to win the Australian Open.
  • 2014: Djokovic triumphs 6–7, 6–4, 7–6, 5–7, 6–4 against Roger Federer for the Wimbledon title.
    2014: Djokovic triumphs 6–7, 6–4, 7–6, 5–7, 6–4 against Roger Federer for the Wimbledon title.
  • 2015: Djokovic beats Andy Murray 7–6, 6–7, 6–3, 6–0 for victory at the Australian Open.
    2015: Djokovic beats Andy Murray 7–6, 6–7, 6–3, 6–0 for victory at the Australian Open.
  • 2015: Djokovic beats Roger Federer 7-6, 6-7, 6-4, 6-3 to win Wimbledon.
    2015: Djokovic beats Roger Federer 7-6, 6-7, 6-4, 6-3 to win Wimbledon.
  • 2015: Djokovic beats Roger Federer 6–4, 5–7, 6–4, 6–4 to win the US Open.
    2015: Djokovic beats Roger Federer 6–4, 5–7, 6–4, 6–4 to win the US Open.
  • 2016: Djokovic beats Andy Murray 6-1, 7-5, 7-6 to win the Australian Open.
    2016: Djokovic beats Andy Murray 6-1, 7-5, 7-6 to win the Australian Open.
  • 2016: Djokovic beats Andy Murray 3–6, 6–1, 6–2, 6–4 for the French Open.
    2016: Djokovic beats Andy Murray 3–6, 6–1, 6–2, 6–4 for the French Open.
  • 2018: Djokovic crushes Kevin Anderson 6–2, 6–2, 7–6 to win Wimbledon.
    2018: Djokovic crushes Kevin Anderson 6–2, 6–2, 7–6 to win Wimbledon.
  • 2018: Djokovic beats Juan Martin del Potro 6–3, 7–6, 6–3 for his third US Open.
    2018: Djokovic beats Juan Martin del Potro 6–3, 7–6, 6–3 for his third US Open.
  • 2019: Djokovic beats Rafael Nadal 6-3, 6-2, 6-3 for victory at the Australian Open.
    2019: Djokovic beats Rafael Nadal 6-3, 6-2, 6-3 for victory at the Australian Open.
  • 2019: Djokovic beats Roger Federer 7-6, 1-6, 7-6, 4-6, 13-12 to win Wimbledon.
    2019: Djokovic beats Roger Federer 7-6, 1-6, 7-6, 4-6, 13-12 to win Wimbledon.
  • 2020: Djokovic triumphs 6–4, 4–6, 2–6, 6–3, 6–4 against Dominic Thiem for the Australian Open.
    2020: Djokovic triumphs 6–4, 4–6, 2–6, 6–3, 6–4 against Dominic Thiem for the Australian Open.
  • 2021: Djokovic celebrates a 7–5, 6–2, 6–2 victory against Daniil Medvedev to win his ninth Australian Open.
    2021: Djokovic celebrates a 7–5, 6–2, 6–2 victory against Daniil Medvedev to win his ninth Australian Open.
  • 2021: Djokovic beats Stefanos Tsitsipas 6–7, 2–6, 6–3, 6–2, 6–4 for his second French Open.
    2021: Djokovic beats Stefanos Tsitsipas 6–7, 2–6, 6–3, 6–2, 6–4 for his second French Open.
  • 2021: Djokovic beats Matteo Berrettini 6-7, 6-4, 6-4, 6-3 to win Wimbledon for the sixth time.
    2021: Djokovic beats Matteo Berrettini 6-7, 6-4, 6-4, 6-3 to win Wimbledon for the sixth time.
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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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Updated: March 02, 2022, 8:49 AM