British Deputy Prime Minister Dominic Raab. EPA
British Deputy Prime Minister Dominic Raab. EPA
British Deputy Prime Minister Dominic Raab. EPA
British Deputy Prime Minister Dominic Raab. EPA

Dominic Raab faces a third formal complaint in bullying probe


Gillian Duncan
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An investigation into claims of bullying by Britain’s Deputy Prime Minister has been expanded.

Downing Street confirmed on Friday the scope of the probe into Dominic Raab’s conduct has been widened to include a third formal complaint.

It relates to his tenure at the former Department for Exiting the European Union, Prime Minister Rishi Sunak’s spokeswoman Camilla Marshall told reporters on Friday.

She said: "I can confirm that the Prime Minister has now asked the investigator to add a further formal complaint relating to conduct at the Department for Exiting the European Union and to establish the facts in line with the existing terms of reference."

The new complaint was received by the Cabinet Office on Wednesday, she said, adding that the Prime Minister retains confidence in his deputy.

The other two complaints against Mr Raab were lodged last week but date from his previous tenure as justice secretary and his time as foreign secretary.

Over the weekend, reports emerged that Mr Raab’s refusal to speak to some foreign office staff cause a “blockage” during the evacuation of western forces from Afghanistan last year.

The Deputy Prime Minister is said to have had a poor working relationship with certain senior officials who he viewed as “time wasters,” and only allowed only a small number of senior staff to engage with him and his private office.

That reportedly caused some decisions in the final stages of the UK withdrawal to be “delayed and backed up,” according to an article in The Guardian.

He has said he is confident he behaved professionally throughout, but will “engage thoroughly” with the complaints process.

The investigation into Mr Raab is the latest scandal to engulf a senior member of Mr Sunak's government.

Cabinet member Gavin Williamson was forced to resign earlier this month after he too faced bullying claims.

Mr Williamson reportedly sent abusive text messages to the party’s former chief whip, Wendy Morton, complaining that he and others had been excluded from Queen Elizabeth II’s funeral for political reasons.

In the messages, Mr Williamson reportedly started by saying: “There is a price for everything”. He said Ms Morton's conduct was “absolutely disgusting” and went on to use multiple expletives.

He is facing an investigation over the messages.

Mr Sunak promised to serve with “integrity and humility” when he succeeded Liz Truss in late October.

But within days of taking office, he was facing criticism for bringing Suella Braverman back into government, six days after she was found to have breached the ministerial code, forcing her resignation under former prime minister Liz Truss.

If you go

Flights

Emirates flies from Dubai to Phnom Penh with a stop in Yangon from Dh3,075, and Etihad flies from Abu Dhabi to Phnom Penh with its partner Bangkok Airlines from Dh2,763. These trips take about nine hours each and both include taxes. From there, a road transfer takes at least four hours; airlines including KC Airlines (www.kcairlines.com) offer quick connecting flights from Phnom Penh to Sihanoukville from about $100 (Dh367) return including taxes. Air Asia, Malindo Air and Malaysian Airlines fly direct from Kuala Lumpur to Sihanoukville from $54 each way. Next year, direct flights are due to launch between Bangkok and Sihanoukville, which will cut the journey time by a third.

The stay

Rooms at Alila Villas Koh Russey (www.alilahotels.com/ kohrussey) cost from $385 per night including taxes.

Dubai World Cup factbox

Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)

Most wins by a jockey: Jerry Bailey(4)

Most wins by an owner: Godolphin(9)

Most wins by a horse: Godolphin’s Thunder Snow(2)

Wenger's Arsenal reign in numbers

1,228 - games at the helm, ahead of Sunday's Premier League fixture against West Ham United.
704 - wins to date as Arsenal manager.
3 - Premier League title wins, the last during an unbeaten Invincibles campaign of 2003/04.
1,549 - goals scored in Premier League matches by Wenger's teams.
10 - major trophies won.
473 - Premier League victories.
7 - FA Cup triumphs, with three of those having come the last four seasons.
151 - Premier League losses.
21 - full seasons in charge.
49 - games unbeaten in the Premier League from May 2003 to October 2004.

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.”

Updated: November 25, 2022, 1:59 PM