WASHINGTON // The US Air Force disclosed yesterday that 34 officers entrusted with the world’s deadliest weapons have been removed from launch duty for allegedly cheating — or tolerating cheating by others — on routine proficiency tests.
The announcement was a stunning setback for a nuclear missile force already beset by missteps and leadership lapses.
The cheating scandal is the latest in a series of Air Force nuclear stumbles documented in recent months by The Associated Press, including deliberate violations of safety rules, failures of inspections, breakdowns in training, and evidence that the men and women who operate the missiles from underground command posts are suffering burnout. In October, the commander of the nuclear missile force was fired for engaging in embarrassing behaviour, including drunkenness, while leading a US delegation to a nuclear exercise in Russia.
A “profoundly disappointed” Air Force Secretary Deborah Lee James, the service’s top civilian official, told a hurriedly arranged Pentagon news conference that the alleged cheating at Malmstrom Air Force Base, Montana, was discovered during a previously announced probe of drug possession by 11 officers at several Air Force bases, including two who also are in the nuclear force and suspected of participating in the cheating ring.
“This is absolutely unacceptable behaviour,” Ms James said of the cheating, which General Mark Welsh, the Air Force chief of staff, said could be the biggest such scandal in the history of the missile force.
A spokesman for Chuck Hagel, the defence secretary, said the Pentagon chief, who just last week visited a nuclear missile base and praised the force for its professionalism, was “deeply troubled” to learn of the cheating allegations. The spokesman, Navy Rear Admiral John Kirby, said Mr Hagel insisted he be kept apprised of the investigation’s progress.
Ms James said she will travel to each of the Air Force’s three nuclear missile bases next week on a fact-finding mission to learn more about conditions within the missile launch force and the more senior officers who manage them. She suggested that the cheating was confined to this single case involving 34 officers, although numerous missile officers have told the AP confidentially that some feel compelled to cut corners on their monthly proficiency tests because of intense pressure to score at the highest levels to advance in the force.
The drug investigation that led to the discovery of alleged cheating was disclosed by the Pentagon last week. It said then that it involved 10 officers at six bases — five in the US and one in England. On Wednesday, the Air Force said the number of suspects has grown to 11. Gen Welsh said he could not comment further on the drug probe.
* Associated Press
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Pearls on a Branch: Oral Tales
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The%20specs
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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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The specs
Engine: 3.0-litre flat-six twin-turbocharged
Transmission: eight-speed PDK automatic
Power: 445bhp
Torque: 530Nm
Price: Dh474,600
On Sale: Now
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Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now