The Princess of Wales has taken on the position of Colonel of the Irish Guards, a role previously held by her husband, Buckingham Palace has announced.
The palace also revealed that the King’s Birthday Parade, known as Trooping the Colour, will be held on June 17 in central London.
The king and the Prince of Wales will ride on horseback during the display, while other members of the royal family, including Kate and Queen Consort Camilla, will watch from carriages and the Buckingham Palace balcony.
Buckingham Palace said three members of the family have been appointed Colonels within the Foot Guards, including Camilla as Colonel of the Grenadier Guards.
This role was previously held by the Duke of York and has been vacant since he was stripped of his royal duties.
Prince William will take the title of Colonel of the Welsh Guards from his father.
UK royal family attends Westminster Abbey Christmas carol service - in pictures
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Britain's Prince William, Catherine, Princess of Wales, Prince George and Princess Charlotte attend the Together at Christmas carol service at Westminster Abbey, London, on Thursday. Reuters -

Prince William, his wife Kate, Princess Charlotte and Prince George arrive at the carol service. AFP -

Prince William shakes hands with the Dean of Westminster, David Hoyle, at the Abbey on Thursday night. PA -

Prince William and Kate arrive with Princess Charlotte and Prince George at Westminster Abbey. PA -

Prince William and Kate arrive with Princess Charlotte and Prince George at Westminster Abbey. Reuters -

The Princess of Wales at the service. AFP -

Prince William and Kate arrive with Princess Charlotte and Prince George at Westminster Abbey. Getty -

The Princess of Wales speaks with children at the Together at Christmas carol service on Thursday night. AFP -

The Princess of Wales speaks with children at the Together at Christmas carol service on Thursday night. AFP -

Catherine, Princess of Wales, plays with a child before the service. AFP -

The Princess of Wales talks to guests. AFP -

Britain's King Charles III talks with Dean Hoyle at the Together at Christmas carol service. Reuters -

King Charles with Dean Hoyle. Reuters -

King Charles, Dean Hoyle and Queen Consort Camilla at the carol service. PA -

The Queen Consort leaves the service. PA -

Mike and Zara Tindall, daughter of the Princess Royal Anne, attend Together at Christmas on Thursday night. Getty -

The Tindalls leave the service. PA -

Britain's Sophie, Countess of Wessex, and Princess Beatrice with her husband Edoardo Mapelli Mozzi, attend the service. Reuters -

Princess Beatrice with Edoardo Mapelli Mozzi and Princess Eugenie with her husband Jack Brooksbank. Reuters -

Princess Eugenie and Mr Brooksbank arrive at Westminster Abbey. Getty -

King Charles, Queen Consort Camilla, Prince William, Prince George, Princess Charlotte, the Princess of Wales and the Countess of Wessex at the service. AP
There will be no change to the existing leaders of the other regiments in the household division, the Palace said.
Trooping the Colour has marked the monarch’s official birthday for more than 260 years, and 2023 will mark King Charles’ first appearance at the event as monarch.
It will follow his coronation, which is due to be held on May 6.
Kate, Princess of Wales fashion in Boston - in pictures
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Britain's Prince William and his wife Kate arrive for the second annual The Earthshot Prize Awards Ceremony at MGM Music Hall on December 2, 2022, in Boston, US. All photos: AP -

Kate, Princess of Wales, wears a bright green off-the-shoulder gown from Solace London with an emerald choker and matching earrings that belonged to Princess Diana -

The Princess of Wales visits the Centre on the Developing Child at Harvard University in Cambridge wearing a houndstooth dress from Emilia Wickstead -

Prince William and Kate visit the Young Mothers programme at the anti-violence group Roca in Boston -

The Princess of Wales waves as she leaves after a visit to Roca -

Prince William and Kate visit the Harbor Defences of Boston -

The Princess of Wales wears a wool coat from Alexander McQueen over a ribbed orange turtleneck and a matching midi skirt from Gabriela Hearst -

From left, former Celtics player and coach Tom 'Satch' Sanders; Britain's Prince William and his wife Kate; and Emilia Fazzalari, wife of Celtics owner Wyc Grousbeck watch an NBA basketball game between the Boston Celtics and the Miami Heat -

The Princess of Wales wears a vintage Chanel blazer -

The Prince and Princess of Wales arrive at Boston Logan International Airport at the start of their US trip -

Prince William and Kate, Princess of Wales speak with Massachusetts Governor-Elect Maura Healey -

The Princess of Wales chose a green Burberry dress for a meeting with Boston's Mayor Michelle Wu
More than 1,400 parading soldiers, 200 horses and 400 musicians will take part in the display of military precision, horsemanship and fanfare.
The parade travels from Buckingham Palace down The Mall to Horse Guards Parade, and closes with a Royal Air Force fly-past.
Kate, Princess of Wales wearing Bahraini pearl earrings — in pictures
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Kate, Princess of Wales, left, wearing Queen Elizabeth II's Bahraini pearl earrings. She first wore them in public while attending the Remembrance Sunday ceremony with Camilla, Queen Consort in November 2016. AFP -

The following year, she borrowed the earrings to attend Royal Ascot in June. Reuters -

In August 2018 she wore the earrings to attend church with Queen Elizabeth. Photo: Invicta Kent Media / Shutterstock -

Camilla, left, and Kate, who is wearing the pearl earrings, take part in the Trooping the Colour in June 2019. Reuters -

The queen and Kate attend the Remembrance Sunday ceremony in London in 2019. AFP -

Pearls are worn as part of royal mourning fashion protocol. Kate borrowed the queen's pearl earrings for the funeral of Prince Philip in April last year. Reuters -

Kate wore them in June to attend the National Service of Thanksgiving held at St Paul's Cathedral during the queen's platinum jubilee celebrations. Reuters -

Kate also wore the earrings for the funeral of Queen Elizabeth. Reuters -

Kate wore the earrings on Saturday to attend the Festival of Remembrance with William, Prince of Wales. AFP
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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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