Insight and opinion from The National’s editorial leadership
October 17, 2021
British politicians are some of the most accessible in the world. Even the country's highly secure Parliament, with a dedicated branch of armed police, barriers and metal detectors, is designed to be open to the public, who can enter in a matter of minutes on a quiet day. Politicians are even more accessible in their local area.
This openness is a fundamental strength of the British system. But on Friday, it was violated in a suspected terror attack that killed David Amess, a Conservative politician and a father of five.
He was one of the UK's longest-serving members of Parliament, having been elected in 1983. His career is a success story of British politics. He did not have a privileged upbringing and grew up in London's predominantly working-class East End. But his 40-year tenure won him a knighthood, as well as the nickname "Mr Southend" from his constituents.
The priest at his parish church – Amess was a committed Catholic – summed up his impact on the area, saying he never saw him without a smile on his face and that "he carried that great east London spirit of having no fear and being able to talk to people and the level they're at. Not all politicians, I would say, are good at that".
Julia Amess, the widow of Conservative MP SIr David Amess, was comforted by relatives at Belfairs Methodist Church, where he died, on Monday morning. She stayed for about 15 minutes. PA
Julia Amess (second left), the widow of Conservative MP Sir David Amess, arrives at Belfairs Methodist Church to read tributes left to her late husband. PA
The Rev Clifford Newman of Belfairs Methodist Church hugs Sir David Amess's widow. AP
A daughter of SIr David Amess is comforted as she views flowers and tributes left for her late father. AP
One of Sir David Amess's daughters views flowers and tributes left for her late father at Belfairs Methodist Church. AP
Julia Amess, left, the widow of Sir David Amess, stands with friends and family members to view flowers and tributes left for her late husband. PA
The mayor of Southend, Councillor Margaret Borton, and mace bearer Adam Tregoning visit Belfairs Methodist Church to pay their respects. Getty Images
Police officers stand outside Belfairs Methodist Church in Leigh-on-Sea, England. Getty Images
A Union Jack flies at half mast after the killing of British MP David Amess. Reuters
A book of condolence inside the Southend West Conservative Association's Iveagh Hall. Getty Images
Flowers with a note for Sir David Amess lie outside Parliament buildings in London. Reuters
A new piece of graffiti artwork depicting the late Sir David Amess appears on a wall in Leigh-on-Sea, England. Getty Images
A photograph of Sir David Amess is placed on a noticeboard outside the Iveagh Hall, the home of the Southend West Conservative Association in Leigh-on-Sea. AP
A Police officer arranges flowers and tributes outside Belfairs Methodist Church in Eastwood Road North. PA
Armed police officers at the scene near the Belfairs Methodist Church, where Conservative MP Sir David Amess died after he was stabbed several times at a constituency surgery. PA
A man was reported to have run into the building and targeted the veteran politician. Police said a suspect had been arrested. AP
A police officer guards the scene. PA
An air ambulance arrived at the scene, before his death was later confirmed by Essex Police. AP
A police cordon was erected around the crime scene and armed officers were seen standing outside the church. AP
In Parliament, he took and could back up clear political and moral positions. But ideology was not everything and he never really sought more senior, ministerial roles, choosing instead to stick by his locality. Tragically, this is where he was killed, while holding a local meeting with constituents.
Such meetings, known as "surgeries", are a fundamental aspect of British democracy. Their nature going forward will now be up for much discussion. Conservative MP Tobias Ellwood has even called for a temporary pause to all in-person meetings until more security is put in place. Amess is, after all, not the first MP in recent times to be killed in their constituency. In June 2016, Labour Party politician Jo Cox was murdered in Batley and Spen by a far-right extremist. In a tweet after Amess's killing, Cox's former husband, Brendan Cox, wrote: "My thoughts and love are with David’s family. This brings everything back."
Most politicians do not fear being killed for doing their jobs. But a wider culture of harassment and abuse of them is becoming normalised in countries that have permitted a toxic public discourse, whether it be in London or the US Capitol. Murder is arguably the final result of this terrible phenomenon and authorities in the UK must now consider new measures to keep MPs safe, be it police presence at meetings or even a permanent move to remote consultations.
That would be a great loss to the openness of British politics, however. To prevent it and others, people must learn to choose a more fundamental solution: constructive political dialogue over vitriol and anger. Personal and social responsibility to be tolerant will be the only permanent fix, not more security.
After all, as a colleague pointed out, one of the reasons Amess was so loved and respected was because he would have opposed more barriers between him and his constituents.
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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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