Tony Martin celebrates as he crosses the finish line to win the 223.5-km (138.9 miles) 4th stage of the Tour de France. Benoit Tessier / Reuters / July 7, 2015
Tony Martin celebrates as he crosses the finish line to win the 223.5-km (138.9 miles) 4th stage of the Tour de France. Benoit Tessier / Reuters / July 7, 2015

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Tony Martin produces late attack to clinch Tour de France fourth stage

Tony Martin finally got his hands on the race leader's yellow jersey with a brilliant solo victory on the Tour de France cobbled fourth stage on Tuesday.

Reuters

July 07, 2015

Chris Froome lost his yellow jersey but retained his grip on his rivals after surviving a day on the cobbles in the Tour de France on Tuesday.

German Tony Martin won the fourth stage with a late attack and snatched the overall lead at the end of a body-punishing 223.5-km ride from Seraing, Belgium.

Team Sky rider Froome was expected to be tested on the seven cobbled sectors that peppered the course, as the Tour entered France for the first time since the grand depart in Utrecht, Netherlands, and he passed with flying colours.

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Froome almost fell off his bike after being slightly elbowed by Italian Jacopo Guarnieri, his front wheel hitting a kerb, but the Briton regained control and soldiered on in impressive fashion.

The 2013 champion, who crashed out of last year’s Tour just ahead of the first cobbled sectors, even accelerated in the finale, showing he was in top shape as he stamped his authority on the race.

Martin leads Froome by 12 seconds overall with American Tejay van Garderen, another contender for the overall victory, in third place 25 seconds off the pace.

Vincenzo Nibali and his Astana team mate Lars Boom attacked repeatedly on the cobbles hoping to shake Froome but all the defending champion got was the prize for the most aggressive rider of the day.

Among the other top favourites, Spain’s Alberto Contador and Colombian Nairo Quintana could only follow, but stayed in contention as the most treacherous part of the race is now behind them.

Contador is in eighth spot 48 seconds behind Martin. Nibali is in 13th position 1:50 off the pace and Quintana lies 17th, 18 seconds further back.

A four-man breakaway built an eight-minute advantage but they never had a chance as Team Sky took control of the peloton just ahead of the first cobbled sector, dramatically upping the pace.

The peloton was eventually skimmed to about 30 riders after Frenchman Thibaut Pinot, who had already lost a chunk of time on Tuesday, was ruled out of contention for good in this Tour following two mechanical failures.

Martin powered away with three km left and the triple time trial world champion never looked back.

His compatriot John Degenkolb sprinted for second ahead of Slovakia’s Peter Sagan.

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UAE currency: the story behind the money in your pockets

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.

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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.

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