The British government said the treatment of Alexanda Kotey and El Shafee Elsheikh, two alleged members of an ISIS assassination squad, meant they could not go on trial in the UK. Reuters
The British government said the treatment of Alexanda Kotey and El Shafee Elsheikh, two alleged members of an ISIS assassination squad, meant they could not go on trial in the UK. Reuters

ISIS Beatles: UK ‘suspends co-operation’ with US amid death penalty outrage



The UK’s Home Office has confirmed that it has temporarily suspended its co-operation with US authorities in the case of two former British citizens alleged to be ISIS fighters over the possibility that they might face the death penalty.

“Yesterday we received a request from the legal representative of the family of one of the suspects to pause the Mutual Legal Assistance (MLA) response,” statement released on Thursday evening read. “We have agreed to a short-term pause. The government remains committed to bringing these people to justice and we are confident we have acted in full accordance of the law and within the government’s longstanding MLA policy.”

Earlier this week it was revealed that home secretary Sajid Javid had written to the US agreeing share information on “Beatles” pair El Shafee El Sheikh and Alexanda Kotey without seeking assurances that the two would not be executed, contrary to a long-standing British policy not to co-operate with death penalty cases.

The decision, which came to the light after leaked documents were seen by the Daily Telegraph, has sparked outrage from cross-party parliamentarians.

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On Thursday, the Guardian reported that the government had opted to suspend its intelligence-sharing plans for the time being following an emergency legal challenge, launched by El Sheikh’s mother.

Writing in the publication UN special rapporteur on counter-terrorism and human rights Ben Emmerson said: “At about midday today, the government beat a tactical retreat – and caved in under the legal and political pressure.”

Nicknamed the Beatles because of their British accents, El Sheikh and Kotey are accused members of the notorious group of ISIS assassins who have been blamed for the beheadings of five westerners and the torture of others held in Syria in 2014 and 2015.

The pair, who have reportedly had their British citizenship revoked, are being held by the Syrian Democratic Forces, having been captured attempting to flee the war-torn country in January 2018.

Lawyers Gareth Peirce and Anne McMurdie representing El Sheikh’s mother said a letter had been sent to Mr Javid on Tuesday asking for immediate assurance that such cooperation should stop, threatening an injunction to prevent any further assistance being provided.

While Mr Javid “gave an undertaking that no further provision of assistance would take place”, the lawyers said this was only a “short term promise”.

Ms Peirce and Ms McMurdie said the minister’s decision was unlawful and they had made an application for the case to be heard before a court.

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  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
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While you're here

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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