Andy Green in Utah driving the Mulsanne. Courtesy of Bentley
Andy Green in Utah driving the Mulsanne. Courtesy of Bentley

Slowing down away from the car



For a man whose professional life revolves around speed, Andy Green is a relatively relaxed individual. His two great passions are sailing and gliding; two activities that rely on skill to extract the most out of natural conditions.
"You ask me how I get my thrills outside work? I'm not sure I need to. There's something enormously satisfying about working with the elements. It's also a great teaching environment because when you take a small boat and a small team of people, there's the discipline, there's the technical judgement and the background skills of taking a group of people across the Channel and back.
"A lot of bits need to happen to do that safely, and a lot of people learn a lot about themselves and each other when they work together as a small team in a cramped environment while they're doing that."
He also has a different relationship with speed when it comes to driving on the road. His licence is clean, and he drives a 2005 Volkswagen Golf with an astronomical number of miles on the clock.
"First of all, driving fast for me doesn't feel very fast. Second of all, everyone I meet asks if I have any points on my licence, so it's just my own personal satisfaction of being able to say 'no' that makes me very careful about it.
"It really comes down to whether speed is appropriate for the conditions. If you're on a 20km-long, 1.1km-wide surface that 300 people have spent three years clearing, then 100mph feels like you're standing still. That's a tenth of the speed we intend going there, and providing you've done all the sensible things like make sure the car is ready for it, make sure the track is clear. Taking all of that as acceptable, boy does it feel sensible. Having said that, 30mph in heavy traffic would be stupid."
This past year, Green was invited by Bentley to the Bonneville Salt Flats in Utah in the United States to put the Mulsanne through its paces.
"The Bentley plan was to take this out to maximum speed. The book speed of this car on the test track, flat out, is 290kph. Bonneville is 1,200m above sea level, so it's very thin air. It was also very hot, so you lose a lot of power. It's also a salt flat: the salt is a crust sitting on a wet clay surface, so in the afternoon it gets very damp.
"I told the guys to not expect 290kph and that if we got 250 we'd have done well. What we actually did was get to 300. The car coped so well with the environment. I was enormously surprised.
"I was also quite nervous. One of the key things when you're running at very high speeds is the tyres. If a tyre bursts at 300kph, you're in a very bad place. People spend months preparing their cars to run at these speeds. Bentley drove the car from the showroom, across the States, to the salt flats – and when they got there, they increase the tyre pressures by 0.6 of a bar and said that the car was ready to go.
"I thought: they clearly don't know what it takes, they don't understand why this is difficult. So we did some slow speed tests. I was wrong, and the engineers were right. We had the live tyre pressures up all the time, because tyres fail when they overheat. When they overheat, the pressures go up. I was watching them all the time and almost no response, not even at 300kph. It's an astonishing car."
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MATCH INFO

First Test at Barbados
West Indies won by 381 runs

Second Test at Antigua
West Indies won by 10 wickets

Third Test at St Lucia
February 9-13

 

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Company profile

Company: Verity

Date started: May 2021

Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif

Based: Dubai

Sector: FinTech

Size: four team members

Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000

Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

MATCH INFO

Uefa Champions League semi-finals, first leg
Liverpool v Roma

When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome

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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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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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