Whether first or tenth for Emiratis, it's all about being best at what you do


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Last month, The National interviewed the first Emirati all-girl rock band. "Playing rock 'n' roll is awesome," said one of the members, Bushra Hassan Al Hashimi, a 22-year-old IT security student who plays rhythm guitar.

"We are the first girls from the UAE who play electric guitars as a band," she said proudly.

Regardless of society's opinion about these young women and what they do, these students at the Higher Colleges of Technology in Al Ain are pioneers in an unconventional field for Emirati females; they've become the first group to perform rock 'n' roll in public. And this is what has made them exceptional, and known both inside their school and in the wider community.

The UAE is a young country; just 41 years old. It has been developing at a rapid pace. And as the nation has developed, many new opportunities have been created, and many men and women have joined the workforce. Others have chosen to start their own businesses and pursue their own dreams.

Now we see Emiratis working in almost every field. Many of them have entered new domains, challenged societal norms and faced unusual difficulties. And in the case of Emirati women, this is even more evident.

Many women have gone beyond the roles and responsibilities mandated by traditional society. We now see women working in what were once unconventional careers, from ministers to judges, engineers to athletes; the list goes on. In a short period of time, the UAE has moved a long way in the empowerment of women, and it has become a model for the whole region.

Last week, a group of students from Dubai Women's College organised a forum titled "Emirati Women Breaking Barriers" to celebrate the first Emirati women in non-traditional fields. As part of their final project, the group created a small booklet highlighting the stories of more than 30 Emiratis believed to be the first women in their career field.

A number of female pioneers spoke about their experiences as they blazed the trail for other women. Many of them described their families' reluctance when they decided to play unconventional roles, and they all agreed that their determination was key to becoming who they are today.

I believe that the power of example is what changes the world. All these women were certainly a source of inspiration. Despite the cultural challenges they faced, they were able to follow their ambitions and dreams. These women must have inspired many others to take their paths and to do what they do. The same goes for the first male pioneers in many professions.

However, we seem to focus more on the start of the journey than on the richness of the experience along the way. The UAE has much more talent to offer and many people who are good at what they do. Members of this new generation have created their own success stories not by being the first, but by aiming to be better than the others.

I learnt in journalism school that, in the modern world, we should focus on the quality of our news articles rather than on finishing them first. Of course it would be even better if we could achieve both, but we were told our focus should be on producing the best quality of work we could. And this is what would give us an advantage over others in the same field.

This could be applied to many other aspects of life.

Let's ask ourselves what is more important: is it being the first to do something or to be the best - or at least to be good- at what we do?

Over the past four decades, stories of those who were "the first" to do something have been all over the news. But now it is time to move ahead and focus on the quality of our work and what we can give back to our nation. The UAE is lucky to have many men and women who have participated in building the country, whether they were the first or the tenth.

Now more than ever, our nation needs more innovative and creative people willing to work hard to prove themselves in every field. Focusing on the quality of what we do will create a more competitive environment among the citizens of the UAE and bring to the fore many new and talented Emiratis who are able to think outside the box.

In a recent event named after the UAE Vice-President Sheikh Mohammed Bin Rashid Al Maktoum's three-fingered salute, "Win, Victory and Love", at the Higher Colleges of Technology in Dubai, Mohammed Harib, creator of the renowned Emirati animation Freej, told the students that he took his time to work on the project before it saw the light of day.

"When I entered the field, I did not want to be the first Emirati to enter it, but I wanted to be the best Emirati in it," he said.

Let us all aim to be the best.

On Twitter: @AyeshaAlmazroui

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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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