Family of American Russia detainee Paul Whelan worried over his whereabouts

It has been one week since the family of Paul Whelan, an American detained in Russia since 2018, heard from the former US marine.

Mr Whelan calls his parents daily and his family said he would never miss calling on Thanksgiving.

“It's very weird that he wouldn't call on Thanksgiving,” said his twin brother, David. “Obviously it's an important holiday for our family and he's very sentimental about those sorts of holidays.”

Mr Whelan’s father turned 85 on Wednesday, a milestone his family said he would never miss the opportunity to call for, if he was able.

David Whelan said officials had told the US embassy that his brother had been moved to the prison hospital, but he said that does not explain the lack of communication.

“On at least one other hospital visit, he has been able to call home,” he told The National.

Though Mr Whelan has gone long stretches without communicating with his family before, it is rare that they go unexplained.

“It's really disconcerting that suddenly he would disappear,” his brother said.

US officials said they are trying to confirm where Mr Whelan is being held but they have not yet been successful.

“We have been trying to get more information about Mr Whelan's condition and his whereabouts,” National Security Council spokesman John Kirby on Wednesday.

“And as we speak this morning, regrettably, we do not have an update specifically about where he is or what condition he's in.”

Mr Whelan is serving a 16-year sentence for espionage after being detained four years ago while visiting Moscow for a friend’s wedding.

“We certainly share the anxiety and the concern of the family,” Mr Kirby said.

“We are deeply concerned about the lack of information and the lack of contact from Paul, and we're working on it as hard as we can through the diplomatic channels.”

The families of Mr Whelan and of basketball star Brittney Griner, who is serving a nine-year sentence in a Russian prison after being convicted of drug-trafficking charges, have called on US President Joe Biden to find a way to bring them home.

In April, the Biden administration successfully negotiated the release of Trevor Reed, another former marine held in Russia, in exchange for Konstantin Yaroshenko, a Russian pilot who was serving a 20-year jail sentence in the US for conspiring to import cocaine.

Reuters contributed to this report

Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.

German intelligence warnings

2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250

Source: Federal Office for the Protection of the Constitution

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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.”