Reinaldo Rueda, who has previously managed Colombia, Honduras and Ecuador and is currently in charge of Atletico Nacional, featured prominently on the previous list of candidates. Martin Mejia / AP Photo
Reinaldo Rueda, who has previously managed Colombia, Honduras and Ecuador and is currently in charge of Atletico Nacional, featured prominently on the previous list of candidates. Martin Mejia / AP Photo
Reinaldo Rueda, who has previously managed Colombia, Honduras and Ecuador and is currently in charge of Atletico Nacional, featured prominently on the previous list of candidates. Martin Mejia / AP Photo
Reinaldo Rueda, who has previously managed Colombia, Honduras and Ecuador and is currently in charge of Atletico Nacional, featured prominently on the previous list of candidates. Martin Mejia / AP Ph

Sport

UAE FA down to two-man shortlist for Mahdi Ali’s successor as national team manager

The UAE Football Association has settled on a final, two-man shortlist to fill the vacant national team job.

John McAuley
John McAuley

April 19, 2017

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The UAE Football Association has settled on a final, two-man shortlist to fill the vacant national team job.

The board met on Wednesday afternoon at the FA's headquarters in Dubai to whittle down the number of potential candidates to succeed Mahdi Ali, who resigned following last month's crushing defeat to Australia in the final stage of qualification for the 2018 World Cup.

After four hours of discussions, the FA announced they had decided on two managers, both South American and both with experience of coaching in international football. Negotiations with the respective managers, led by FA president Marwan bin Ghalita, will now take place, with FA spokesman Hassan Al Jasmi saying the identity of Mahdi Ali’s successor will be announced “soon”.

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Read more

■ Paul Radley: Cosmin Olaroiu is the ideal man to replace Mahdi Ali

■ 'I did my best': Mahdi Ali steps down as UAE manager

■ Comment: Mahdi Ali can be proud of how far he has taken UAE football

__________________________________

It is understood Colombian Reinaldo Rueda, who has previously managed Colombia, Honduras and Ecuador and is currently in charge of Atletico Nacional in his homeland, featured prominently on the previous list of candidates. So, too, Argentines Ricardo Gareca, the Peru manager, and Edgardo Bauza, who was last week dismissed as Argentina manager.

Late on Wednesday, Abu Dhabi Sports TV claimed on their Twitter account that Rueda got the job.

The FA want to have the new man in place as quickly as possible, given the national team face Thailand in a make-or-break World Cup qualifier in Bangkok on June 13.

Twin defeats to Japan and Australia last month dealt a huge blow to the country’s hopes of making what would be only a second global finals, with the 2-0 loss in Sydney prompting Mahdi Ali’s resignation. The Emirati had held the position since August 2012.​

At present, the UAE sit fourth in Group B, seven points off the automatic qualification spots with three matches remaining. The most likely route to Russia is therefore a third-place finish, which seals a place in a series of play-offs to make the World Cup. Australia, the reigning Asian champions, currently occupy that position, four points ahead of the UAE.

​jmcauley@thenational.ae

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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.

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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.

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.

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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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1. Jasper Philipsen (Bel) Alpecin-Fenix 4:42:34

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Emergency phone numbers in the UAE

Estijaba – 8001717 –  number to call to request coronavirus testing

Ministry of Health and Prevention – 80011111

Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre

Emirates airline – 600555555

Etihad Airways – 600555666

Ambulance – 998

Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries

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