This undated photo provided by Indian police, shows Bunty Sharma and his American wife Erin Willinger in Agra. AP Photo
This undated photo provided by Indian police, shows Bunty Sharma and his American wife Erin Willinger in Agra. AP Photo

Indian rickshaw driver murders his American wife after Taj Mahal romance fizzles out



AGRA // An Indian rickshaw driver stabbed his American wife to death before setting himself ablaze, police said Saturday, in a violent end to a whirlwind romance scripted in the backdrop of the Taj Mahal.

Bunty Sharma, 32, killed 35-year-old Erin Willingar from Pennsylvania on a deserted roadside in the tourist city of Agra after the couple had a fight late Thursday, senior police officer Shalabh Mathur said.

Sharma drove Willinger in his vehicle and on reaching a secluded place where he stabbed and killed her, and dumped the body on the side of the road, Mr Mathur said.

Sharma later committed suicide by setting himself on fire, he said.

The couple first met when Willingar visited Agra last July with her friends to see the Taj Mahal, the world famous monument of love. Romance blossomed, they got married and began living together but soon had a falling out over suspicions of infidelity.

Sharma accused her “of smoking too much, talking to other men and not staying at home”, the Indian Express reported.

The US Embassy in New Delhi refused to comment on the case but Mathur cited embassy officials as saying that they had informed the victim’s family about her death.

“We are preserving the body of the victim until further instructions from the embassy,” Mr Mathur said.

The case grabbed headlines Saturday with local newspapers offering details of their Bollywood-style romance.

At the end of her July trip, Willingar stayed back as her friends returned home and married Sharma in a ceremony held on the rooftop of a hotel located in the backdrop of the Taj Mahal.

But the romance soon fizzled out and the couple began living separately in December, police said.

“Both of them tried to resolve their differences and even met with a marriage counsellor,” Mr Mathur said.

Willinger, from West Chester, Pennsylvania, adopted an Indian name, Kiran Sharma, and began working with a local non-governmental organisation to promote tourism in Agra.

* Agence France-Presse with additional reporting by Associated Press

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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.

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“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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