Harry Harling was found dead after a fall from an apartment block in Motor City, Dubai, on March 23, 2012.
Harry Harling was found dead after a fall from an apartment block in Motor City, Dubai, on March 23, 2012.

Friend had fight with Harry Harling on night UK teen died in Dubai fall



DUBAI // A 15-year-old British boy has been charged with assaulting a schoolfriend who later died in a fall from an apartment block.

Defendant HJ got into a fight with Harry Harling, also 15, at a party in Newbridge Hill 1, Motor City, Dubai, on March 23, a court heard today. Police later ruled that Harry committed suicide by jumping from the 11th floor later that night.

Party host HA told the Dubai Court of Family and Juveniles that Harry had turned up at the party at about 10.30pm and was "totally drunk".

"At midnight I found Harry crying alone by the lift and he told me he was heading home," said HA.

His mother tried to call him several times to no avail. Harry was found dead on the grass next to the block by a security guard the following morning.

"His last message was at nearly 9.30pm when he said that he was heading to the party and would be sleeping over," said Harry's mother.

Prosecutors originally filed a case of mutual assault charges against both boys but the charge against Harry was dropped as he was dead.

HJ was not present in court but the judge merely gave him a verbal reprimand.

The security guard, TB, found Harry on the grass at 9.20am on March 24. He said: "I saw a boy who was not from the building's tenants lying on the grass," adding that he realised that the boy was dead and called police.

When police arrived and investigated the area, the window to an 11th floor corridor was found forcefully opened.

No footprints other than that of the deceased were found near the window.

Prosecutors said that there were no signs of a struggle to suggest that the boy was thrown out of the window.

The post-mortem examination confirmed the cause of death to be a broken neck, internal bleeding and failure in the breathing process.

Forensic experts said Harry had a high alcohol content in his bloodstream but not enough for him to be unable to function normally.

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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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