Floral tributes are left for Jack Merritt and Saskia Jones, who were killed in a terror attack near London Bridge in November 2019.
Floral tributes are left for Jack Merritt and Saskia Jones, who were killed in a terror attack near London Bridge in November 2019.
Floral tributes are left for Jack Merritt and Saskia Jones, who were killed in a terror attack near London Bridge in November 2019.
Floral tributes are left for Jack Merritt and Saskia Jones, who were killed in a terror attack near London Bridge in November 2019.

London Bridge men who tackled terrorist to be honoured for bravery


Neil Murphy
  • English
  • Arabic

Four men who tackled the Fishmongers’ Hall terror attacker on London Bridge and helped enable his arrest will receive civilian medals for bravery.

Steven Gallant, John Crilly, Darryn Frost and Lukasz Koczocik all feature on this year’s Civilian Gallantry List, the last to be approved by the late queen, after stepping in to confront extremist Usman Khan during the attack in November 2019.

Khan, who had two large knives and a fake suicide belt, stabbed Cambridge graduates Jack Merritt, 25, and Saskia Jones, 23, and injured three others before running on to London Bridge.

Ex-prisoner Mr Crilly hosed Khan with a fire extinguisher and communications manager Mr Frost jabbed at Khan with a narwhal tusk, sending him off balance.

Mr Koczocik used a long ceremonial pike taken from the walls of the Grade II-listed building to disarm Khan. Gallant then tackled Khan to the ground, where he was restrained until armed police arrived.

Gallant, one of two men convicted of killing Barrie Jackson in Hull in 2005, had been allowed out on licence for the first time when the incident occurred.

They will each receive the Queen’s Gallantry Medal.

Usman Khan was confronted by Darryn Frost, Steven Gallant and John Crilly on London Bridge. Photo: Metropolitan Police
Usman Khan was confronted by Darryn Frost, Steven Gallant and John Crilly on London Bridge. Photo: Metropolitan Police

Prison officer Adam Roberts, who had escorted Gallant to the event on day release, also features on the list, having given first aid to Ms Jones after she was stabbed.

Also on the 15-person list is church bell ringer John Rees, 88, who was killed as he attempted to stop a woman from carrying out a knife attack in a store on May 5, 2020.

He was stabbed and bludgeoned with two wine bottles and a fire extinguisher by Zara Radcliffe during the attack in Pen Y Graig, Rhondda, South Wales.

Lisa Way and Ayette Bounouri, who were in the shop at the time, have also been recognised for their roles in helping to confront Radcliffe.

Chancellor of the Duchy of Lancaster Oliver Dowden said: “We all hope we’d react with courage in the face of danger. These people have lived through that test, and responded in the most admirable way.

“Their selfless actions have saved lives, and I want to express profound thanks for their willingness to put themselves in danger to protect others.

“They are all extremely worthy winners of the final Civilian Gallantry awards of Her Majesty the late queen.”

Tributes from the UAE's personal finance community

• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style

“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.

Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term. 

From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”

• Sam Instone, director of financial advisory firm AES International

"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed.  Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."

• Demos Kyprianou, a board member of SimplyFI.org

"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."

• Steve Cronin, founder of DeadSimpleSaving.com

"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.

His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.

Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."

• Zach Holz, who blogs about financial independence at The Happiest Teacher

"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen.  He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”

• Tuan Phan, a board member of SimplyFI.org

"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."

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UAE currency: the story behind the money in your pockets
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Where: Wanda Metropolitano
When: Thursday, May 3
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Casket match
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Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.

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Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

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Two stars

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.”

Strait of Hormuz

Fujairah is a crucial hub for fuel storage and is just outside the Strait of Hormuz, a vital shipping route linking Middle East oil producers to markets in Asia, Europe, North America and beyond.

The strait is 33 km wide at its narrowest point, but the shipping lane is just three km wide in either direction. Almost a fifth of oil consumed across the world passes through the strait.

Iran has repeatedly threatened to close the strait, a move that would risk inviting geopolitical and economic turmoil.

Last month, Iran issued a new warning that it would block the strait, if it was prevented from using the waterway following a US decision to end exemptions from sanctions for major Iranian oil importers.

Five expert hiking tips
    Always check the weather forecast before setting off Make sure you have plenty of water Set off early to avoid sudden weather changes in the afternoon Wear appropriate clothing and footwear Take your litter home with you
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The specs: 2018 Dodge Durango SRT

Price, base / as tested: Dh259,000

Engine: 6.4-litre V8

Power: 475hp @ 6,000rpm

Torque: 640Nm @ 4,300rpm

Transmission: Eight-speed automatic

Fuel consumption, combined: 7.7L / 100km

The specs: Volvo XC40

Price: base / as tested: Dh185,000

Engine: 2.0-litre, turbocharged in-line four-cylinder

Gearbox: Eight-speed automatic

Power: 250hp @ 5,500rpm

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Fuel economy, combined: 10.4L / 100km

THE BIO:

Favourite holiday destination: Thailand. I go every year and I’m obsessed with the fitness camps there.

Favourite book: Born to Run by Christopher McDougall. It’s an amazing story about barefoot running.

Favourite film: A League of their Own. I used to love watching it in my granny’s house when I was seven.

Personal motto: Believe it and you can achieve it.

FIXTURES

Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)

Tuesday, January 29
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Friday, February 1
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Updated: March 17, 2023, 10:30 PM