Stoke City have managed to do their own damage with the ball at the Liverpool back even as the forward provide the push for the Reds. Clive Mason/Getty Images
Stoke City have managed to do their own damage with the ball at the Liverpool back even as the forward provide the push for the Reds. Clive Mason/Getty Images
Stoke City have managed to do their own damage with the ball at the Liverpool back even as the forward provide the push for the Reds. Clive Mason/Getty Images
Stoke City have managed to do their own damage with the ball at the Liverpool back even as the forward provide the push for the Reds. Clive Mason/Getty Images

Title hopes still shaky as Liverpool defence is up in the air


Richard Jolly
  • English
  • Arabic

The fixture list provides a handy way of measuring how much teams have progressed or regressed. Liverpool’s trips to Stoke City have a tendency to be defining games.

The last two are no exception. They are matches that can shape a season. They illustrate the dramatic improvement at Anfield.

On Sunday, Liverpool became the first visiting team to score five goals in a top-flight game at the Britannia Stadium.

They attacked at pace and with potency. They boasted the brilliance of Luis Suarez and yet, with Daniel Sturridge sparkling in his cameo and Raheem Sterling underlining his rich promise, confirmed the days when they could be deemed a one-man team are consigned to the past.

As they eviscerated Stoke, they accelerated past a half-century of league goals for the season. Brendan Rodgers’s side have already struck more times than Kenny Dalglish’s group did in the whole of the 2011/12 campaign.

Yet perhaps the most pertinent comparison with the past is provided by games at the Britannia Stadium. Liverpool lost at Stoke in December 2012 and appeared utterly unprepared for a physical test.

It was an appalling performance, notable for poor selection. A baffled, diminutive technical talent in the land of the long ball, the teenager Suso, lasted 45 minutes.

The second-half substitution when Joe Cole replaced Stewart Downing indicated Liverpool’s propensity to waste money on overrated players.

They limped back to Merseyside 21 points behind the league leaders and a mere 10 points above the relegation zone.

The process of renewal and revival began the following month with the signings of Sturridge and Philippe Coutinho and the promotion of Jordan Henderson to the starting 11.

It may culminate in qualification for the Champions League in May and, if so, the eight-goal thriller at Stoke will rank alongside September’s defeat of Manchester United and December’s demolition of Tottenham among the most important staging posts en route to Europe.

The difference between the last week of 2012 and the first two weeks of 2014 is immense.

One was among the lowest points of the Rodgers reign, another an undoubted highlight. And yet there is a common denominator.

While Liverpool scored once at Stoke 13 months ago and five times on Sunday, they conceded three goals in both games.

Nor, despite the incredible score, is that defensive statistic an outlier. They have yielded three goals each at Everton and Hull City this season, two apiece on their trips to Swansea City, Newcastle United, Arsenal, Manchester City and Chelsea.

Some are elite opposition and it is worth noting Liverpool still have to visit five of the bottom seven sides, but such porousness has become an unfortunate habit.

Whenever they leave Anfield, where they have been excellent, it is a recurring question if Suarez, Sturridge and co can carry on scoring at such a rate to compensate for the goals that inevitably go in at the other end.

It scarcely helps that Simon Mignolet, the goalkeeper, a paragon of solidity in the first four months, has been culpable for concessions in each of the past three away games.

Yet, the fundamental problem occurs in front of him. Liverpool have the worst defensive record in the top seven and, arguably, the poorest back four.

Partly because of injuries, Rodgers has chopped and changed without suggesting he knows his best combination, especially in the centre.

Daniel Agger has been under-used. Kolo Toure’s spirit is willing even if his legs are sometimes found wanting. Mamadou Sakho’s £16 million (Dh96.7m) price tag may explain why the cumbersome Frenchman features so often. And Martin Skrtel, having made the surprise journey from fourth-choice to the first-picked central defender, really ought to be handed a return ticket.

Revisiting Stoke was a reminder of his problems. Skrtel was dropped in favour of the more dependable Jamie Carragher soon after last season’s defeat at the Britannia Stadium. A year on, Liverpool remain too susceptible to the aerial ball, whether free kicks, corners or crosses in open play.

A supposedly commanding centre-back fails at the basics of communication too often, as his mix-ups with Toure at Hull showed.

The retired Carragher’s leadership is missed, which may account for the deployment of Steven Gerrard as a defensive midfielder.

The captain offers responsibility and authority but he cannot resolve Liverpool’s issues with tall strikers. That is a task for central defenders. In one respect, it renders it surprising that Rodgers, who has been linked with Andriy Yarmolenko and Mohamed Salah, seems to want to sign a winger to supply an already prolific attack.

Yet, he has enough centre-backs – Agger, Sakho, Skrtel, Toure, the injured Sebastian Coates and the three young pretenders, Martin Kelly, Andre Wisdom and Tiago Ilori – and three of them were among his 2013 recruits.

But, as a tale of quantity rather than quality, it is the opposite of Liverpool’s striking situation where it scarcely matters that the alternatives to Suarez and Sturridge lack lustre.

Development can be uneven, of course, and while Liverpool have progressed hugely as an attacking force, the danger is they have regressed defensively.

There is no doubt Rodgers has constructed one of the four most entertaining teams in England.

Yet, the danger is their failings at the back will cost them a top-four finish.

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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.”