Charlie Pocock stands outside the Meem Gallery in Dubai with his 1991 Bentley Turbo R. Mr Pocock came about the British classic in somewhat unusual circumstances.
Charlie Pocock stands outside the Meem Gallery in Dubai with his 1991 Bentley Turbo R. Mr Pocock came about the British classic in somewhat unusual circumstances.

A decent proposal



If the mark of a renaissance man is his appreciation of the arts and technology, then Charles Pocock fits the definition. Part-owner and managing partner of Meem Gallery in Dubai, Pocock is an authority on Ancient Islamic and modern Middle Eastern art. "I'm an art historian by trade, but I collect and sell art", he says.

With an MA in the History of Art, Pocock has a keen eye for the aesthetic and the functional, which might explain why his everyday commuter is a classic 1991 Bentley Turbo R. The car came into the gallery's possession when an unnamed sheikh exchanged it for one of the gallery's pieces. "I didn't buy the Bentley. It came from a passionate car and art collector in Abu Dhabi from a well-known family. We were talking about a painting and he said, 'I have to have it. You can have anything of mine that you want - within reason'. And for a joke I said, 'I'll take the Bentley'. He put his hand out immediately and said 'Done'."

The 6.8L V8 monster is a rarity. While there are other Turbo Rs in the region, few are the limousine variant which has about two feet of extra rear space. "And it's got weird grey-black camouflage style dashboard [inlays]", Pocock says of the original interior. "I took the sheepskin mats out for a while, but then I thought, 'You know what, they're really comfy and my feet really do like them a lot'."

Between a house in London, where Pocock commutes to his city gallery in a Subaru Legacy, a family home in Sussex where a battered Range Rover hauls him through the villages close to Goodwood, and a summer residence in the France where a Saab convertible inherited from his mother serves as the family carriage, cars feature prominently in his lifestyle. He comes from a line of car lovers. His grandfather, an engineer at Oxford who designed the wings of the Wellington and Lancaster bombers as well as introducing aluminium alloy into aeroplane construction, was a Royal Automobile Club member, as was his father. Pocock is also a member.

He produces a chromed 1930s RAC emblem from his desk. "This is actually for the Royal Automobile Club itself - the private members' club. The number is 432 which was his membership number. "I spoke to the club secretary's office and asked how many members of the RAC were in the [Middle East] region, and they think I'm the only one," he says. Now he has to find a way to mount the emblem to the front of the Bentley.

The Turbo R is the most refined vehicle Pocock has owned. "I used to have an old MkII Golf that was worth no more than fifty quid - that's what I sold it for", he smiles. "It was a great car but I completely destroyed it. I regret not getting one car at university - the Ford Capri, just like in The Professionals. It's totally cheesy but really cool." Like many young boys growing up on the 1980s, Pocock references his favourite cars through their TV debuts: "I've always loved the Magnum PI Ferrari - the 308. As kids in England we were bought up on Magnum PI and Miami Vice - the Ferrari Daytona!" But he adds that the only reason he wouldn't buy a 308 is because, at more than two metres tall, he's too big to fit in one.

"If you've got to travel then you've got to travel in comfort. It's important not to punish yourself," Pocock continues and, besides, there are the other advantages to driving a classic Bentley. "I always get spoilt rotten at the Royal Mirage," he says. "They make sure it's parked out the front. It's probably the least valuable car in the whole row." Even so, the Turbo R recently survived a Jeep Wrangler driving into the door with just a scratch and an inch-long paint chip. "Any other car and it would have taken the door off completely," he smiles.

Having survived cancer in 2006, skinning his shin bone in a surfing accident when he was 18, burning his arms working in a steel mill in the US as a student and skinning his knuckles on the Cresta Run at 90mph, there may be signs that Pocock is beginning to rein in his wild side and appreciate the serenity epitomised by the Bentley. "The engineering of the car is just breathtaking", he adds. But there is still room for technology. "My wife openly admits that she's not the best at directions. The TomTom [GPS] has saved our marriage." And occasional schoolboy pranks are still amusing: "I programmed my father's TomTom with my voice. And he doesn't like being told what to do by anyone - especially by his son."

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Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

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.”

UAE currency: the story behind the money in your pockets
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)

Tori Amos
Native Invader
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What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
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  • Grade 1 = between grades F and G
The specs

A4 35 TFSI

Engine: 2.0-litre, four-cylinder

Transmission: seven-speed S-tronic automatic

Power: 150bhp

Torque: 270Nm

Price: Dh150,000 (estimate)

On sale: First Q 2020

A4 S4 TDI

Engine: 3.0-litre V6 turbo diesel

Transmission: eight-speed PDK automatic

Power: 350bhp

Torque: 700Nm

Price: Dh165,000 (estimate)

On sale: First Q 2020

The bio

Who inspires you?

I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist

How do you relax?

Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.

What is favourite book?

The Perks of Being a Wallflower - I think I've read it more than 7 times

What is your favourite Arabic film?

Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki

What is favourite English film?

Mamma Mia

Best piece of advice to someone looking for a career at Google?

If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.  

 

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5