Search experts in protective gear examine the home of Dawn Sturgess, who died after being affected by the nerve agent. REUTERS/Henry Nicholls/File Photo
Search experts in protective gear examine the home of Dawn Sturgess, who died after being affected by the nerve agent. REUTERS/Henry Nicholls/File Photo

UK police ‘identify Russian nerve agent suspects'



British police have identified several Russian suspects from security camera footage collected after a nerve agent attack targeting a former double agent that left a woman dead, according to a report Thursday.

Investigators have cross-checked footage from security cameras in the southern English city of Salisbury with aircraft passenger records and are “sure” those behind the attack in March are Russians, according to an unnamed source cited by the domestic Press Association news agency.

Sergei Skripal, 66, his daughter Yulia, 33, have been released from hospital but a woman unconnected with the Skripals died earlier this month after spraying herself unwittingly with the deadly Novichok agent after retrieving a discarded perfume bottle.

Details of the apparent identification of suspects came as an inquest was due to open on Thursday of Dawn Sturgess, 44, who died eight days after coming into contact with Novichok from the same batch used in the attempted murders of the Skripals.

The bottle was found during a search of her partner Charlie Rowley, 45, at his home in Amesbury, some nine miles from the where the Skripals live. He remains in hospital but has been able to tell police what happened.

The pair were known to have travelled to a public park the day before they were stricken which was just a few hundred yards from where Mr Skripal and his daughter were found slumped on a bench in the centre of the small military city in March. They later caught a bus together to Amesbury where they fell ill.

The area where Mr Skripal was found is covered by numerous security cameras installed across the city last year in a £400,000 project. The high-definition footage is sharp enough to identify individual car number plates, council leader Matthew Dean told The National.

“Investigators believe they have identified the suspected perpetrators of the Novichok attack through CCTV and have cross-checked this with records of people who entered the country around that time,” the source told PA. “They (the investigators) are sure they (the suspects) are Russian.”

Police were Wednesday carrying out a finger-tip search of the park.

Experts have said that the accidental or deliberate discarding of the bottle was likely a major error, that could potentially tie the assassination team to the attack through DNA retrieved from the bottle.

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The Metropolitan Police declined to comment on the report on Thursday but the conclusion would back the UK government’s assertion that Russia was behind the attack. Ministers have said Russia’s link to Novichok, the Kremlin’s history of targeted assassinations in the UK – including the murder of former spy Alexander Litvinenko in 2006 using radioactive material - and the rarity of the nerve agent all signalled Russian state involvement.

The attack resulted in a tit-for-tat expulsion of diplomats by the UK and its allies and Russia and sent relations between the countries plunging to their worst levels in years. It also prompted the UK to successfully push for changes at the global chemical weapons watchdog that would allow inspectors to attribute blame for attacks using banned substances.

Russia has always denied that Russia was behind the attack. President Vladimir Putin told US broadcaster Fox News this week that unspecified domestic issues could have been responsible for the attack.

“We recently heard that two people suffered,” he said. “I have never even heard the names of these people. What kind of package? What chemical formula? Maybe there is some other reason for death.”

UAE currency: the story behind the money in your pockets

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.”