Four-time Olympic gold medallist Simone Biles will not be competing in Thursday’s all-around competition after withdrawing from the team finals because of a mental health issue, according to a statement from USA Gymnastics.
“Simone will continue to be evaluated daily to determine whether or not to participate in next week’s event finals,” the statement read.
On Tuesday, during the women’s gymnastics team event, the US’s superstar gymnast was preparing for her vault. She was due to complete an Amanar, a complex vault with two-and-a-half twists so difficult that it carries a score half a point higher than most other vaults. If perfected it would net Biles, and in turn the US team, the points needed to edge out the Russians and towards Olympic gold.
Whether it was the pressure of coming to Tokyo as one the biggest names – having won four gold medals in Rio – the extra year of training and anticipation during a pandemic, which has been epitomised by the ominous silence of an empty Ariake Gymnastics Centre, when Biles hit the springboard, something was amiss.
“I lost my bearings,” she said. In mid-air, Biles flung her arms out to slow her rotation to complete only one-and-a-half twists, landing low on the ground and lunging forward to stabilise herself. She left the mat visibly unhappy.
Within minutes, USA Gymnastics confirmed that Biles had withdrawn from the competition, citing "medical issues". Biles later confirmed in a press conference that she pulled out to "focus on her mental health", saying that she had been increasingly stressed as the Olympics had unfolded, so much so that her body was shaking when she was trying to rest.
“I felt it would be better to take a backseat and work on my mindfulness. I knew the girls would do a great job. I didn’t want to risk the team a medal for my screw ups,” Biles said.
The US team went on to claim silver, with the Russian Olympic Committee taking gold by a margin of just 3.5 points.
Biles' withdrawal sparked renewed conversations about mental health and asked questions whether enough is being done to protect athletes' wellbeing. There was renewed scrutiny on US Gymnastics and the US Olympic and Paralympic Committee (USOPC).
Biles was one of the dozens of athletes who were subjected to sexual abuse from former US gymnastics coach Larry Nassar. At the time of the allegations, Nassar’s trial and sentencing, Biles battled with crippling depression and mental ill-health.
At the time, the USOPC underwent radical change, overhauling everything from its mission statement to the way it allocates resources. One key part of the USOPC overhaul included its increased emphasis on mental health counselling, indicating a complete culture change.
“We’re deploying every resource that’s available to her, and we want to give her space to make choices that are going to be right for her,” Sarah Hirshland, CEO of the USOPC said of Biles. “We can’t know the answer because none of us live in her shoes.”
On Wednesday, Biles withdrew from the women’s all-around competition, giving up the chance to defend her coveted title. She has not decided if she will compete in the event finals scheduled later in the week.
Biles' decision to withdraw from the team event almost certainly cost the US a gold medal, and her subsequent withdrawal from the individual events will likely reduce the overall US haul, as she had been expected to win as many as four golds.
None of that matters, insists Hirshland.
“These are not the USOPC’s medals, these are the athletes’ medals,” she said. “We can’t lose site of that. They make these choices. They do the work. They perform, and we are simply here to create an environment in which they can be successful.”
With the world watching and talking about it, Biles can include being a role model for young competitors everywhere to prioritise their mental health as part of her legacy.
“Put mental health first. If you don’t then you’re not going to enjoy your sport and not succeed as much as you want to,” said Biles. “It’s OK to sit out the big competitions and focus on yourself. It shows how strong a competitor and person you really are, rather than just battle through it.”
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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UAE-based players
Goodlands Riders: Jamshaid Butt, Ali Abid, JD Mahesh, Vibhor Shahi, Faizan Asif, Nadeem Rahim
Rose Hill Warriors: Faraz Sheikh, Ashok Kumar, Thabreez Ali, Janaka Chathuranga, Muzammil Afridi, Ameer Hamza
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
EMERGENCY PHONE NUMBERS
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
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Scoreline
Man Utd 2 Pogba 27', Martial 49'
Everton 1 Sigurdsson 77'
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The Transfiguration
Director: Michael O’Shea
Starring: Eric Ruffin, Chloe Levine
Three stars
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
UAE currency: the story behind the money in your pockets
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The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
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