Former world champion surfer Andy Irons dies



Former three-time world surfing champion Andy Irons has died.

Phil Irons, the father of the 32-year-old surfer, confirmed his son's death on Tuesday. The cause of death was not immediately known.

The younger Irons was found dead in a hotel room in Dallas, where he was on a layover en route to his home on Kauai. He was returning from Puerto Rico, where he was to have competed in the 2010 Rip Curl Pro Search.

Employees at the Grant Hyatt Hotel DFW Airport found the body and called Dallas-Fort Worth International Airport police at 9.44am.

Public Safety officials said the guest had checked in on Monday and had died of unknown causes.

The Tarrant County Medical Examiner will perform an autopsy today to determine the cause of death.

Irons was expected to compete against two Australian surfers in his first heat Saturday, but did not show up, much to the confusion of commentators.

Rip Curl officials said Irons withdrew on Sunday, citing an illness he contracted during an event in Portugal.

Family members from Kauai were headed to Dallas late on Tuesday.

Irons was scheduled to compete in the Vans Triple Crown of Surfing in Hawaii, which is scheduled to begin next week. He was a four-time winner in the prestigious event.

"The thing that I think many of us appreciated the most about Andy was that he was an incredibly real person," a Triple Crown spokeswoman Jodi Wilmott said. "Where a lot of champions in sports and celebrities become very guarded and you just wonder sometimes if you're really seeing who they are, you've got Andy Irons 100 per cent of the time."

Wilmott said Irons was a passionate person and an incredibly competitive athlete.

"He revelled in competition and in stepping up to the plate and I think that's something in sport that anybody can admire," she said.

Irons claimed the world championship in 2002, '03 and '04, becoming an icon in the surfing world. He was also revered on his home island of Kauai, along with his younger brother Bruce, also a pro surfer. Irons was raised and learned how to surf on the tranquil and scenic North Shore, where he was married three years ago.

In a video posted by his longtime sponsor, Billabong, Irons talked about his first wave he ever caught.

"I thought right then, 'This is the coolest thing in the world' ... I literally will never forget that wave," Irons said.

The Irons family in a statement thanked the surfer's friends and fans and requested privacy "so their focus can remain on one another during this time of profound loss".

Billabong posted a tribute page on its website, www.billabong.com/us/, which includes a photo and video of Irons. In the clip, Irons talks about making a comeback and fighting "inner demons".

Billabong called Irons one of the "greatest surfers of our time".

"More than that, he was a much loved son, a devoted husband and a soon-to-be father. The thoughts of all Billabong employees worldwide are with wife Lyndie and Andy's family at this most devastating time," the company said.

Irons' wife, Lyndie, is pregnant and scheduled to give birth to their son and first child in December.

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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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UAE cricket captain

Age: 31

Born: Sharjah

Role: Left-arm spinner

One-day internationals: 31 matches, 35 wickets, average 31.4, economy rate 3.95

T20 internationals: 41 matches, 29 wickets, average 30.3, economy rate 6.28

MATCH INFO

Uefa Champions League semi-final, first leg

Barcelona v Liverpool, Wednesday, 11pm (UAE).

Second leg

Liverpool v Barcelona, Tuesday, May 7, 11pm

Games on BeIN Sports

Small Victories: The True Story of Faith No More by Adrian Harte
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Yadoo’s House Restaurant & Cafe

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Golden Dallah

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Started: 2016

Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel 

Based: Ramallah, Palestine

Sector: Technology, Security

# of staff: 13

Investment: $745,000

Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors

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THE SPECS

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Company profile

Name: Infinite8

Based: Dubai

Launch year: 2017

Number of employees: 90

Sector: Online gaming industry

Funding: $1.2m from a UAE angel investor