Simon Coates. Satish Kumar / The National
Simon Coates. Satish Kumar / The National

Simon Coates is making sound and vision from his Dubai studio



Primarily a video artist but also a painter, Simon Coates is currently holed up in the studios above Dubai Community Theatre and Arts Centre (Ductac) as part of its residency programme.

"This place gets very busy and a lot of people passing through for the classes drop in and see me," he says.

"It's an open studio, but I'm also doing some workshops after Ramadan in here; more of the critique-style set-up that you would get in a fine art degree, with artists bringing in their work to discuss.

"It's sort of aimed at art students or those who want to go to art college and want criticism that is honest, untrammelled but constructive."

Process

Coates's style is remarkably dark: hollowed-out zebra torsos, flailing bandages and flicks of paint. The influence of the more visceral mid-20th century painters is obvious, certainly the kind of corporeal contortions found in Francis Bacon's work. However, sound and video art remain his focus: "I've just had two sound artworks played at an experimental radio festival in Portugal. One of these was a half-hour version of Jenny from the Block by Jennifer Lopez. I found an a cappella section in it and started to break that down. It came out like a half-hour journey into hell and back."

Working week

"I treat the studio like an office," says Coates. "It's a proper 9-to-5 because if you don't put the hours in and have a disciplined framework, you're not going to get the kind of results you're looking for.

"Because I show abroad a lot, there's a lot of admin involved. I don't have a gallery representing me, and having an agent would make my life easier."

Though the heart of the artist's studio is his computer, which he uses for producing his video art and sound pieces, the paintings and sketches dotted around the space appear like a way of thinking and working. "I know I'm not a great painter, I know I should stop altogether, but there's something inside that tells me to. I can draw and I'd like to get to the point that I'm painting with the same confidence and ease," he says.

Inspiration

A recent show at Ductac including works by the Emirati conceptual artist Hassan Sharif made Coates sit up. "I find Sharif's work genuinely moving, partly because of how hard he has worked to get his skills recognised. There's an element of Joseph Beuys about his work that really resonates with me," he says.

"I've done a piece recently that, in my mind, is very similar to the way Sharif wraps things. It's like with the bandages that you can see in my paintings, or in the films there'll often be images of people gagged or wrapped - there's a strong theme of containment in my work and how that can operate as non-verbal communication."

Getting seen

From August 6, Coates has two video pieces at Conway Hall in Holborn, central London, as part of a group exhibition titled The Museum of Virulent Experience. One of the works, If You Like, is a scattered patchwork monologue that captures the cut-up contortion of language that Coates says he's aiming for in his work - we stumble across phrases that feel just out of our reach. Interestingly, he got the British comedian Bob Mortimer to read the words.

"Lisa, Bob's wife, is an old friend of mine, and I was struggling to find someone to narrate the piece," he says.

"I've also got two paintings showing in Pennsylvania in August, both of which are for sale."

But Coates is quite clear that he's expressly not a commercial artist: "The commercial galleries in Dubai, for me, are shops; they sell products. I'm currently helping to set up an art platform back in the UK as an outlet to show off my design work - it will offer stuff for sale, but on the website you'll have a lot of free stuff, allowing people to print off my work for free. There'll be sound work on there. The new platform is an outlet for more business thinking."

To see more work by Simon Coates, go to www.simoncoates.com or visit him above the Gallery of Light at Ductac, Mall of the Emirates. For more information on the workshops, visit www.ductac.org

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.”

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5