British Airways has begun distributing its new uniform, designed by Savile Row fashion designer and tailor Ozwald Boateng, to employees.
The BA uniform has undergone its first major revamp in nearly 20 years.
The collection includes tailored three-piece suits for men and several options for women, including the introduction of a modern jumpsuit – a first for the airline.
There is also a tunic and hijab option.
BA engineers and ground staff will be the first to don the uniforms, after which cabin crew, pilots and check-in agents will follow suit.
Engineers and ground handlers had requested enhancements such as easy-to-access tool pockets and touchscreen technology fabric in gloves, leading to a number of design revisions.
Maintaining the traditional BA colours, the refreshed collection features a blend of navy blue and red. The men's tailored three-piece suits, as well as the women's dress, skirt, trousers and modern jumpsuit, all carry this colour scheme.
BA said the pattern was inspired by the movement of air over a plane’s wing, while the hijab was designed for comfort and convenience while respecting cultural and religious sentiments.
As staff start to wear the new uniform, they will return their Julien MacDonald garments, which will be donated to charity or recycled to create items such as toys and tablet holders. Some pieces will be added to the airline’s museum collection.
British-Ghanaian Boateng, renowned for his innovative designs, spent time shadowing airline employees to understand their requirements.
“Designing this uniform went far beyond clothes,” he said. "It was about creating an energetic shift internally."
More than 1,500 BA staff engaged in the four-year development process, taking part in secret trials.
Sean Doyle, BA chairman and chief executive, stressed that the new design was created to reflect modern Britain and represent a service that their people are proud to wear. He said: “Our uniform is an iconic representation of our brand, something that will carry us into our future.”
Emma Carey, a BA cabin crew member, said: “It was great to see that adjustments were made after our feedback. I can't wait for our customers to see the new collection.”
The new attire has largely been crafted from sustainable fabric, including recycled polyester.
As part of the airline's BA Better World commitment, only manufacturers belonging to the Better Cotton initiative, a sustainability enterprise, were engaged.
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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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