Ivy league killing grips America


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As more details emerge about the man who allegedly strangled a Yale student and stuffed her body in the recesses of a wall, friends and well-wishers are calling for the toughest of sentences . Annie Le, 24, a pharmacology graduate and a doctoral student with the department of medicine, was last seen on the campus on Tuesday last week, five days before her wedding. While there had been initial speculation that she was a runaway bride, a nationwide hunt was soon launched.

The day she was to be married, police found her body stuffed behind a wall of a basement laboratory building, where she was seen entering but never exited. Ms Le vanished after leaving her office and heading to another lab about 10am on September 8. The Connecticut medical examiner's office determined that she had been asphyxiated. Outrage and interest over the crime has gripped the US for the past week as authorities first looked for the missing student, and then briefly detained before setting free a single "person of interest," Raymond Clark III, a lab technician, who was arrested again late on Thursday night.

"But what kind of punishment would fit killing someone and stuffing her in a two-foot hole in a wall?" said Mayfield Kim, posting on a Facebook site dedicated to remembering Ms Le. "Annie was a beautiful lady with a great future ahead of her. It just makes me so ill." If Mr Clark is charged with Ms Le's murder, he may face a life sentence in prison because the state of Connecticut, where Yale is located and where Mr Clark was arrested, does not impose the death penalty.

Mr Clark, 24, has worked at Yale since 2004. His duties included cleaning the cages of lab rodents, which were mostly mice. Mr Clark, his fiancee, Jennifer Hromadka, and his sister and brother-in-law all worked at the same laboratory where Ms Le conducted research on mice for stem cell development. It is believed this brought him in contact with Ms Le, and that there was perhaps an altercation over Le's housekeeping at the lab.

His supervisor reports that nothing in the history of his employment at the university gave an indication that his involvement in such a crime might be possible," said Richard Levin, Yale's president, in a statement to the campus community on September 17. "We must resist the temptation to rush to judgment until a full and fair prosecution of this case brings a just resolution." However, questions linger about the motive behind the crime, even though the New Haven police have called it "workplace violence", suggesting that it was not a pre-medicated murder and denied reports of a romantic relationship between the two.

Medical evidence tells the investigators that Ms Le was hit and then strangled. Although the police chief would not confirm a DNA match, there is overwhelming evidence in DNA samples found from blood spots on Mr Clark's shoes as well his DNA on Le's body, newspapers have reported. He was interviewed several times in the days after Ms Le's disappearance and he reportedly aroused suspicion after he failed lie detector tests, and said the scratch marks on his chest were from his pet cats.

The Hartford Courant reported that records of computerised swipe cards from the laboratory building led police to focus on Mr Clark. The newspaper, citing an unidentified law-enforcement source, said Mr Clark entered a basement laborastory shortly after Ms Le, and that her card was never used again. The swipe card shows Mr Clark spent nearly an hour in the room after Ms Le was killed. He then moved from room to room, before returning to the room and finally heading toward the utilities conduit where the body was later found.

Mr Clark was arrested on Thursday morning at a motel without incident, about 48 kilometres north of the Yale campus. Investigators have collected more than 250 pieces of evidence, according to sources who spoke to ABC News. He sent a text message to Ms Le a few hours before she was reported missing to discuss the cleanliness of the researcher's animal cages, according to ABC News. Mr Clark has also been described as a "control freak" who often clashed with researchers. But his high school friends remembered Mr Clark, a football and baseball player, as a popular boy.

Kelly Godfrey, a high school classmate of Mr Clark, told ABC News that she thought "so highly of Ray ? to think of him something like that is hard to imagine". Ms Le's family, who hail from California, gathered on Tuesday for a private memorial at which a Vietnamese priest officiated. The family of Ms Le's fiance, Jonathan Widawsky, a graduate student of Columbia University, issued a statement on Thursday that thanked people who helped with the preparations for "a wedding that was not to be".

The family suggested that donations in Ms Le's memory be made to the I Have a Dream Foundation, which the couple suggested on their wedding registry. The foundation is aimed at empowering children from low-income communities to achieve higher education, according to its web site. Mr Clark made his first appearance in court on Thursday, but he did not enter a plea at the arraignment, where the judge set bail at US$3 million (Dh11 million). His next court date is October 6.

sbhattacharya@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.

“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.”