Capital

Interview. Legendary chef Marco Pierre White P.54 / Tailoring. The essential guide to bespoke suits P.40 / Opera. Dubai – creating a new cultural hub P12

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ISSUE ONE

WHICH WATCH? Member Remy Julia on the ultimate timepieces you need in your collection Page 32

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A N O T E F R O M CCONTRIBUTORS APITAL CLUB DUBAI'S GENERAL MANAGER

Hello and welcome to our new quarterly magazine, an initiative designed to elevate our communication with members (there are now 1,400 of you) even further and, perhaps, show non-members (your guests, whom only you can invite to join) what they are missing out on.

We are deeply proud of this first issue, a publication dedicated to offering added value to those finding themselves inside our exclusive club.

With diversity in mind, there are not only club updates but some cracking feature articles on the leading business clubs around the world (the Capital Club ranks consistently as one of the best), and sartorial advice on bespoke suits – not to mention a revealing interview with legendary chef Marco Pierre White and lifestyle reviews including the latest Rolls Royce and the best highend watches.

You will also find a full low-down of our 8th anniversary ‘Bond’ party, which really was a night to remember. And you can find details of some of the many luminaries who have walked through our hallowed halls this month including

Nobel Peace Laureate Kailash Satyarthi and former British Defence Secretary Liam Fox – among many others.

Before I let you dive into the issue, just a brief note on the culinary changes at the club. You will have noticed our new Italian fine-dining experience. Executive Chef Simone Serafini and his team have focused on simplicity and fresh produce to create a truly authentic Italian experience.

Having myself worked and managed teams at the Royal Automobile Club, Claridge’s, Hilton Park Lane , 5 Hertford Street and The Dorchester to name but a few high-end institutions – I am confident that few clubs and hotels anywhere in the world can challenge the knowhow and passion of the team here.

Finally, as you make your travel plans for the summer, do also remember that your membership provides you with the benefit of using over 300 leading private clubs worldwide, as part of our ‘reciprocal club’ network. So enjoy the summer, enjoy the club and enjoy the magazine.

Christian Horvath

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CONTENTS

GENERAL MANAGER Christian Horvath DIRECTOR OF COMMUNICATIONS AND EVENTS Noor Nanji CLUB EVENTS AND COMMUNICATIONS COORDINATOR Ana Miulescu

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GATE VILLAGE, BUILDING 3, DUBAI INTERNATIONAL FINANCIAL CENTRE (DIFC), Tel: +971 4 364 0111 info@capitalclubdubai.com www.capitalclubdubai.com

08. CAPITAL CLUB NEWS The latest news and views 24. BUSINESS OF BUSINESS CLUBS Leading private members institutions open up a whole new world of possibilities – and plenty of fun to boot 32. HIGH END WATCHES FOR DIFFERENT OCCASIONS A comprehensive guide on how to avoid wearing the wrong watch on the wrong occasion 34. FROM ONE GENERATION TO THE NEXT The collector’s guide to Patek Philippe Perpetual Chronograph wristwatches 36. INVESTING IN TIME Luxury watches are quickly emerging as a solid asset class, providing a great return for investors 40. DRESS TO IMPRESS A guide to bespoke suits 45. TAKE CARE OF YOUR SUIT AND IT WILL TAKE CARE OF YOU It takes a special type of gentleman to be able to maintain the garments in good shape over their lifetime 48. LONDON – A PLACE WHERE HISTORY MEETS MODERNITY Immerse yourself in a range of cultural experiences in the ‘big smoke’ this summer

Capital Club Dubai @CapitalClubDXB Capital Club Dubai @capitalclubdubai

60 50. MARK BEER: How the region’s financial centres can become modern day leaders 51. STEFANO FERRETTI: From Dubai Opera to Expo 2020, there is much to look forward to in the UAE 52. JOE CAPALDI: As life expectancy increases, many people are enjoying the now without preparing for a longer retirement 54 MARCO PIERRE WHITE: The firebrand reveals some of the most colourful stories of his life and career 56 SOCIETY/EVENTS The great and the good visiting the club in recent months 60 FROM ITALY TO DUBAI Members and guests can enjoy a truly authentic Italian fine-dining experience right here in the UAE

A Motivate Connect Publication Media One Tower, Dubai Media City PO Box 2331, Dubai, UAE T: +971 4 427 3000 F: +971 4 428 02261 motivatepublishing.com connect@motivate.ae

EDITOR-IN-CHIEF Obaid Humaid Al Tayer MANAGING PARTNER AND GROUP EDITOR Ian Fairservice EDITORIAL DIRECTOR Gina Johnson PUBLISHER Chris Capstick chris@motivate.ae GROUP EDITOR – CONNECT Dean Carroll Guido Duken SENIOR ASSIGNMENTS EDITOR Ingrid Valles SENIOR ART DIRECTOR Tarak Parekh GENERAL MANAGER – PRODUCTION Sunil Kumar PRODUCTION MANAGER R. Murali Krishnan

New Gold

Discover how VULT has transformed the way the world views diamonds. vult.com

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CAPITAL CLUB CAPITAL NEWS CLUB . 8TH NEWS ANNIVERSARY

Turning 008 in style Capital Club Dubai turned 008 in true James Bond style, when more than 1000 members donned tuxedos and elegant gowns for the ‘Licence to Party’ event on April 21. It was fitting that the date coincided with HM Queen Elizabeth II’s 90th birthday, as members had been invited to attend ‘on Her Majesty’s Secret Service’ in keeping with the Bond theme.

The night featured an array of exciting live entertainment including a snake charmer, martini glass girl, Russian dancers, a magician and live music, as well as delectable buffets, creative beverages and a best-dressed competition – bringing the spirit of the world’s most famous secret agent to the United Arab Emirates with great aplomb.

Sponsored by Aston Martin and Elegant Resorts, the prestigious DIFC venue was decorated to reflect scenes from renowned Bond films, featuring gold illumination in the Members Bar for ‘Goldfinger’, blue lighting and ice sculptures in the Al Hamra dining room for ‘From Russia with Love’, and a diamond room with special lighting for ‘Diamonds Are Forever’.

An Aston Martin Vulcan – a track-only supercar that you could imagine Mr Bond driving during weekends – was parked outside the venue, providing a spectacular photo

opportunity upon arrival. A red carpet led members inside the club through a huge, gun-shaped tunnel. A Shirley Bassey style vocalist also sang a very special happy birthday to the club, followed by a raffle draw that saw myriad exciting prizes given away. Among them was an all-inclusive trip to Sri Lanka, a supercar for a weekend and a luxury hotel stay in Paris.

The bash continued into the early hours of Friday morning.

Members have been calling it the best Capital Club anniversary party so far. Peter Greaves, from the Club’s Membership Committee, said: “It was a lovely way to celebrate 8 years of success – the bar has been set high for the 9th year.”

Club General Manager Christian Horvath labelled the evening “a knock-out in keeping with the mystery and intrigue we’ve come to associate with James Bond”. He added: “Of all the great events inside and outside of the club that I’ve been lucky enough

“IT WAS A LOVELY WAY TO CELEBRATE 8 YEARS OF SUCCESS – THE BAR HAS BEEN SET HIGH FOR THE 9TH YEAR.” to attend, the Capital Club Anniversary Party was by far (and I promise, without bias) the most exciting. There was never a dull moment. The only things that you never found on the night were empty glasses or a lack of food choices.” Social media was abuzz as members and guests tagged photos and videos of the night with the hashtag ‘CCDturns008’.

Finally a big thanks to the other event supporters: The Peninsula Paris, Emirates Airline, AMAN Resorts, Vispring, Palazzo Versace, Stratta 1836, Turkish Village, Grey Goose, CAREEM and Armada.

Onwards and upwards to the Club’s 9th year!

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CAPITAL CLUB CAPITAL NEWS CLUB . 8TH NEWS ANNIVERSARY

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CAPITAL CLUB NEWS . 8TH ANNIVERSARY

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CAPITAL CLUB NEWS . IN VIEW

Dubai Opera – coming soon Dubai Opera launches in August with high-profile acts including the 75-year-old ‘King of Opera’ Plácido Domingo. The venue’s Chief Executive Officer Jasper Hope admitted that the launch would take place in challenging times, stating: “Nobody should ever consider this a dead cert.” But he insisted the venue would never “stand empty” because the programme of events would even include rock and pop acts such as Eric Clapton and Adele – rather than just classical acts – in order to provide a diversified business model. “I don't think stadium rock would be appropriate in a space this intimate, but take a stadium act and do it acoustically – then no problem,” he said of the 2,000 seater auditorium.

See page 51 for club member Stefano Feretti’s take on Dubai Opera.

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CAPITAL CLUB NEWS . KAILASH SATYARTHI

‘We can eradicate child slavery in the next five years’ – claims Nobel Peace Prize winner Kailash Satyarthi

Efforts to end child slavery and exploitative labour practices were the focus for Nobel Peace Prize winner Kailash Satyarthi’s thoughtprovoking lecture at Capital Club Dubai in April. Having been at the forefront of the movement since the United Nations officially recognised the issue in 1980, Satyarthi made it his life’s work to fight against the suppression of children’s basic human rights and for the rights of all to an education.

In 2014, it was in recognition of his 35 years of campaigning in India that he received a Nobel Peace Prize. During his time as an activist and campaigner, Satyarthi and his colleagues were credited with being responsible for the emancipation of more than 85,000 children from slavery or labour exploitation.

Addressing club members, Satyarthi said: “In many parts of the world – like Dubai – we can look to versions of modern societies, advances in infrastructure, technology and jobs that offer opportunities and empower so many of us to achieve our full potential.

However, while advances are being made in some countries, we still live in a world where the terrifying hardships of slavery and child exploitation continue to affect billions around the world.

“In many developed countries, the issue of slavery is often thought to no longer exist and that, in itself, creates its own set of issues – by not even being recognised as a problem. Perhaps it doesn’t help the issue when we have a UN International Day supposedly recognising the abolishment of slavery. This is grossly

misleading as it certainly does not reflect the worldwide reality.”

Satyarthi insisted that education was key to eradicating the problem, as parents of children in some of the poorest regions of the world still did not even consider the possibility of sending their children to school. As the parents themselves were often uneducated and had worked from a very early age in their own lives, they were often unaware of their children’s rights and were taken advantage of as a result – claimed Satyarthi.

Describing the moment when he changed vocation from a magazine writer covering the issue into a full-time activist, Satyarthi recounted how in 1980 a man came to his home in Delhi.

The man begged him to help his daughter escape from those who had enslaved him and his family, and had forced them to work without pay for 17 years.

“After helping take his case to the High Court, which we won, I brought the freed children from the courts to my office, with them literally bouncing down the street like excited frogs all the way. It was at this moment that I realised that, while I had helped free them – by helping them, I was also freeing myself,” he explained.

“It was from this very first instance of my active involvement in the issue that I refused to accept that any child should be forced to work or be enslaved. Freedom is non-negotiable.”

“I REFUSE TO ACCEPT THAT ANY CHILD SHOULD BE FORCED TO WORK OR BE ENSLAVED. FREEDOM IS NON-NEGOTIABLE.” In 1998, Satyarthi was one of the organisers of a worldwide march to raise awareness of child labour. The protestors claimed that while poverty was the root cause, change could only be realised through human connections, love, and mutual responsibility among all ‘global citizens’. That same year, the UN then unanimously adopted an international convention on fighting against the worst forms of child labour.

Reaching out to the audience during the lecture, Satyarthi revealed that the number of children working in full time jobs across the world had been reduced from 260 million to less than 168 million over the last 15 years. He also maintained that with the right political will and leadership in place, child labour could be eradicated completely within five years.

“While the fight continues, I am very confident that I can count on the compassion of human beings – of all races and nationalities – to unite against child slavery and that is why we will not fail.”

Capital Club Dubai’s lecture series is a regular evening event where captains of industry, politicians, philanthropists, philosophers and other notable thought leaders are invited to provide insight on socio-political and economic issues.

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CAPITAL CLUB NEWS . BREXIT

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Shock ‘Brexit’ vote sparks immediate discussion at Capital Club Dubai In the first major regional debate on Brexit following the UK’s vote to leave the EU, a packed room of club members met to discuss the implications for Britain, Europe and the rest of the world.

In the immediate aftermath of the historic decision taken by the British electorate, on June 23, to sever their country’s ties with the European Union, Capital Club Dubai hosted a debate on June 26 on the future prospects for the United Kingdom and its trading relations with the United Arab Emirates and the rest of the world.

The club was the first place in the whole of the GCC, if not globally, to host a discussion so soon after the vote. Over 150 members and guests attended the event, showing that even thousands of miles away from the UK, Brexit is a hot topic on everyone’s minds.

It is part of a series of events organised at the club in the lead up to and aftermath of the EU referendum. Other events in the series included esteemed speakers such as Conservative politician and former UK Defence Secretary, Dr Liam Fox, who presented the case for Brexit back in March.

Experienced panelists from both sides of the debate were present on Sunday night to analyse the outcome of the referendum and predict what may be coming next. With the shock result in favour of Brexit, there are many uncertainties related to how the UK will interact with its trading partners, and the panelists outlined the possible conditions that will now have to be met.

During the debate, Robert Tasker, Vice-Chairman of the UAE’s Vote Leave branch, said: “The primary concern of the negotiators on either side of the table will be to prevent any further

erosion of the 60-year-old European project. There can be no doubt that the Brexit result highlights that reform is definitely needed within the EU.” Adding a positive slant to the debate, Toby Simpson, Managing Director of Gulf Recruitment Group, said: “One of the plus-points of the UK exiting the EU is that it will be able to make trade agreements quicker. That’s because the UK is just one country and will not be negotiating as part of a 28-country trading bloc.”

Reviewing Brexit’s impact outside of the EU and in other regions like the GCC, Francis Matthew, Editor-at-Large for Gulf News, said: “The UK’s situation won’t really change much in relation to the MENA region. The UK-UAE relationship continues to be a strong one both politically and on trade.”

Matthew’s comments echo those made by Dr. Fox in March. In a speech at the club, Fox said that Britain’s exit from the EU would not affect its relationship with the UAE. But he added that the UK would have more resources with which to support business trading in the UAE. “I see a huge positive opportunity for the UK to start to invest more in the bilateral relationships that really matter to us,” said Fox, who was on the committee of the ‘Vote Leave’ campaign.

But the region has already begun to feel the ill effects of the UK’s historic referendum. On the day after the vote, regional stocks plunged due to a global market sell-off triggered by the ‘Leave’

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CAPITAL CLUB NEWS . BREXIT

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vote. Dubai’s bourses fell by 3.3 per cent, while Egypt’s stock market dropped much more sharply than its Gulf neighbours. It was also feared that slower growth in Europe could further push down oil prices.

Meanwhile, British sterling tumbled immediately after the vote. Although the low value left GCC expats with a windfall sum to send back to the UK, analysts feared the effect of a vulnerable exchange rate on local real estate and tourism.

According to Tasker, “the scope for increasing the UK’s business cooperation with the GCC area is huge.

But it’s about the long-term. It’s probably not going to happen in the next three to five years. The point is that the potential is there.

“The immediate question is tariffs, and let’s be honest there probably will be tariffs between the UK and the EU going forward. Perhaps a solution might be that we can negotiate our tariffs with the EU, but

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“ONE PLUS-POINT OF BREXIT IS THAT THE UK WILL BE ABLE TO MAKE TRADE AGREEMENTS QUICKER. THAT’S BECAUSE THE UK IS JUST ONE COUNTRY AND WILL NOT BE NEGOTIATING AS PART OF A 28-COUNTRY TRADING BLOC.” we can’t join the single market like Norway because the EU views business and services as indivisible with the freedom of the people. As immigration has played a leaving room in this campaign, the UK cannot agree on these terms.

“However, a possibility might be that we voluntarily agree to abide by every customs law that the EU puts forward over the next decade. And I say a decade because I don’t know many businesses that have planned beyond that.

“Trials must be turned into opportunities,” if the UK is to survive in a post-Brexit world, Tasker concluded. The rest of the panel agreed and that also seemed to be the consensus from the audience during the debate.

1. (l-r): Robert Tasker, Vice-Chairman, Vote Leave, UAE branch; Francis Matthew, Editor-at-Large, Gulf News; Toby Simpson, Managing Director, Gulf Recruitment Group; Riad Hamade, MENA Head of News, Bloomberg. 2. United Kingdom’s former defence secretary, Liam Fox. 3. Toby Simpson adds a positive slant to the debate.

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CAPITAL CLUB NEWS

Diamonds – a new global asset alternative to gold The New York-based financial technology company VULT recently held its Middle East launch at the Capital Club. Joseph Lipton, the inventor and Chief Executive Officer of Secured Worldwide, flew into Dubai and revealed his strategy for transforming the way diamonds are traded around the world.

VULT is a consumer fintech product that uses internet-based technologies and state of the art authentication to address the needs of consumers for a portable store of wealth and tangible assets.

According to Lipton, the nature of the diamond trade’s business model has created limitations for individual investors and prevented diamonds from emerging as a true, transparent asset class and store of value. Lipton explained how VULT has created a new, liquid, accessible asset class.

“While gold is an important investment for protecting wealth, it doesn’t offer the concentrated

portability of VULT,” he said.

“VULT allows individuals to easily price, buy, transport or sell investmentgrade diamonds as a new and accessible asset. Investors now have an alternative store of wealth that is unlike the current system of non-standardised laboratory graded loose diamonds,” he continued.

“We have transformed diamonds from a personal asset into a new form of wealth and global monetary exchange,” Lipton added.

During the event, a VULT was sold to prominent Dubai-based entrepreneur, Farooq Arjomand, and Secured Worldwide is currently in discussions with him

for a partnership agreement to develop the VULT business in the UAE. Secured Worldwide was formed in the United States in 2013. The company has since expanded its operations into Hong Kong, China, Taiwan, Miami, Panama and Dubai. The company’s mission is to provide sales, delivery, storage, transparent pricing and liquidity to consumers with an independent, secure, and tangible global asset.

Continue to invest, but do so with care Global markets will improve slightly but you should always maintain a diverse investment portfolio. That was the message from top financial expert Nili Gilbert when addressing Capital Club members in February. The Harvard-educated supremo, now a Portfolio Manager at boutique asset management firm Matarin Capital, said: “The way we think about it is really hedging, which means building a diverse portfolio so that on any given day if one of your investments is moving in one direction, the hope is that another is moving in the other direction.”

Looking ahead, Gilbert said: “We’re expecting a moderate increase in the global markets on average. We’ve actually seen stock markets rise phenomenally since the financial crisis with limited economic growth. This year, we expect to see some more appreciation of the market from central bank stimulus.

“However, there’s still fear in the market, which is juxtaposed by investors who are hungry for a return. It is that combination of fear and greed that creates a lot of short-term volatility. From my perspective, I think that the volatility can create a lot of opportunity, as long as you can stay hedged against the risks you can’t control.”

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CAPITAL CLUB NEWS

A message from Noor Nanji, Capital Club Director of Events and Communications “One way in which we aim to add value to membership is by hosting interesting, relevant and enjoyable events. With an exclusive venue, a world class culinary team and a band of event specialists setting the scene, we are confident that members and guests will be hard-pressed to find a better way to spend their time other than at the club.

“The first six months of 2016 have flown by and the events calendar has been jam-packed every week. Standout happenings included a series of packed debates on ‘Brexit’ and a hot-off-the-press discussion on the Panama Papers scandal.

“Other notable speaker events in recent months have included an evening with the Shadow British Lord Chancellor and Lord Mayor of the City of London.

We were also proud to welcome Nobel Peace Laureate Kailash Satyarthi, outlining the hugely important issue of children’s rights. Celebrity Chef Marco Pierre White launched his new book, Essentially Marco, at the club. We turned 008 in style at our Club’s fabulous James Bond themed Anniversary Party in April. Our regular member ‘facetime’ lunches and our monthly ‘Last Tuesday Tradition’ networking gatherings also remain ever-popular.

“We will stay busy heading into the second half of the year with exciting upcoming events including a debate on the United States presidential election, the Annual Board of Governors dinner, our series on ‘People who shaped Dubai’ and our Masquerade Ball. Stay tuned for more details on all of these!”

Celebrity Chef Marco Pierre White with Noor Nanji, Capital Club Director of Events and Communications

Inspiring Luxury – An Evening at Palazzo Versace Dubai On Tuesday May 17, Members of Capital Club Dubai were cordially invited to cocktails and canapes at Palazzo Versace Dubai. It was an excellent way for members to experience the hotel, through a culinary journey across their fashion-inspired dining venues.

Steeped in classic Italian design, Palazzo Versace Dubai is a neoclassical masterpiece set along the shores of the historic Dubai Creek. Featuring a striking entrance, high ceilings, landscaped gardens and a range of well-crafted Italian furnishings, the urban resort is truly symbolic of the Versace lifestyle.

Capital Club Dubai members are entitled to complimentary access to the hotel’s pools and 20 per cent off their restaurants and bars (excluding Enigma and Q’s Bar). Just remember to show your membership card at the respective outlet to take advantage of the discount.

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CAPITAL CLUB NEWS

People who shaped Dubai

Former teacher and Founder of Magrudy’s bookshop Isobel Abulhoul delighted members with a talk on January 17.

Also the Founder and Director of the Emirates Airline Festival of Literature, she has been a tireless campaigner for elevated literacy standards.

Education, education, education A groundbreaking film, which is part of a progressive worldwide movement to use storytelling as a tool to promote the education of women as a societal good, was shown to members during a breakfast event in April, with a follow-up event in May. Following the screening – Nicola Hewitt, the Middle East Adviser for Girl Rising, explained how the film had already been screened in 148 countries, in 30 languages and had helped to raise $6m.

The overall narrative of the film – and the wider movement as a whole – was designed to draw worldwide attention to the fact that equality between the genders, which starts with an equal and robust education system, was not just a necessity but also a positive step for global development.

“You can’t tell a story unless it’s told by the people themselves onground,” said Hewitt. “We found a good Afghan writer and Haitian writer to pen the story and write it from the girls’ perspective. Then we reached out to people in Hollywood to narrate the film. “With a specific focus on the MENA region going forward, the GR campaign aimed to create a thinktank to address the challenges faced by women in the region.”

The GR campaign for female empowerment and equality has been supported by many global partners including The White House, The George Washington University, CNN, Hewlett-Packard, Save the Children, Priyanka Chopra and the Indian government.

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CAPITAL CLUB NEWS . INFOGRAPHICS

CAPITAL CLUB DUBAI

FACTS & FIGURES

SENIORITY OF MEMBERS

CEO, MD, Partner 42.8%

Chairman, President, Founder 9.4%

Director, Regional Director 39.6%

VP 4.1%

COO, CFO, CMO 2.6%

Sheikhs, Minister/ Governor 1.5%

INDUSTRY OF MEMBERS

Banking, finance and insurance 34.6%

Consulting and business services 12%

Trading 12.6%

Construction and engineering 7.9%

Real Estate 4.4%

Holding Company 3.9%

Others 3.6%

Oil, Gas and Energy 3.6%

IT and Telecomms 3.4%

Manufacturing 3.3%

Legal 3.3%

Media, Arts and Entertainment 1.7%

Hospitality, travel and tourism 2.8%

Logistics, transportation 1.7%

Healthcare and medical 1.4%

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CAPITAL CLUB NEWS . INFOGRAPHICS

NATIONALITY OF MEMBERS Swedish 1.0%

Canadian 7.0% American 25.1%

Saudi Arabian 4.0%

Dutch 6.1%

British 8.6% Jordanian 1.8% Egyptian 6.1%

Iranian 2.1% Emirati 4.0% Irish 1.9%

Swiss 0.9%

Indian 2.3%

French 3.2% German 3.1%

Pakistani 1.4%

Omani Italian 1.5% 1.9% Lebanese 1.7%

Australian 19.3%

MEMBERS OF NOTE

Kerri L. Lefebvre Director, Head of Dubai Office, CONYERS DILL & PEARMAN

Fathi Ben Grira Chief Executive Officer, MENACORP

Sharief Fahmy Chief Executive Officer, MIDDLE EAST GENERAL ENTERPRISES

Kerri Lefebvre joined Conyers in 2000 and now heads the Dubai office. She has been recognised in Legal 500, Chambers Global, and was also named one of IFC’s Top 200 Power Woman for 2015 (and 2014). Kerri is regularly published in business and legal journals including Offshore Investment, The Oath and Compliance Insider.

Fathi is the CEO of Menacorp, one of the largest financial services firm in the country with more than AED 9 billion of clients’ assets.

Under Fathi’s leadership, Menacorp has been constantly ranked 1st, among 49 securities brokerage firms, in terms of market share on the DFM for 2013,2014, 2015 and year-to-date 2016.

Sharief is CEO at MGE, and is also Senior Advisor to the internationally-acclaimed Dubai Airshow. He has had a distinguished 23-year public service career where he served on every level in the US Government including the Pentagon, the White House, Presidential Airlift ‘Air Force One,’ United States Central Command and as a diplomat at the American Embassy Abu Dhabi.

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CAPITAL CLUB NEWS . INFOGRAPHICS

TYPE OF CLUB EVENTS

BOARD OF GOVERNORS n H.H. Sheikh Ahmed Bin Saeed Al Maktoum Department of Civil Aviation n H.E. Saeed Abdul Jalil Al Fahim Mubarak and Brothers Property n H.E. Dr. Habib Al Mulla Baker & McKenzie Habib Al Mulla n H.E. Sheikha Lubna Bint Khalid Al Qasimi Ministry of International Cooperation and Development

Business events 17.7%

Other events 17.2%

Speaker series 13.8%

Wine tasting 12.0%

Chefs dinners 8.5%

Cigar sampling 6.7%

n H.E. Mohammed Al Fahim Paris Gallery Group & Co n Ms. Muna Al Gurg Easa Saleh Al Gurg Group n Mr. Mark Beer, OBE DIFC Courts n Mr. Shyam Bhatia Alam Steel Ltd n Mr. Abbas Bolurfrushan Arya Insurance Brokerage Co. n Dr. Izzat Dajani FEBC International JLT n Mr. Hussain Sultan Riverside Investments Limited n Mr. Douglas Dowie DFSA n Mr. Ian Fairservice Motivate Publishing n Mr. Guy Guillemard Advisor n Mr. Badr Jafar Crescent Petroleum Group n Mr. Raza Jafar Enshaa PSC n Mr. Riad Kamal AGF Investment LLC n Ms. Linda Mahoney Better Homes LLC n Mr. Arif Naqvi Abraaj Capital n Mr. Mahendra Pancholia M P Pancholia Group n Mr. Manish Patel Geap International n Mr. Edward Quinlan ICAEW n Mr. V. Shankar Gateway Partners

Film-screenings 6.3%

Whisky tasting 5.8%

D5 EXECUTIVE GYM Changing the way you think about fitness State-of-the-art facility Handpicked coaches Personal training Nutrition Therapy Education and restoration

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CAPITAL CLUB NEWS . INFOGRAPHICS

MEMBERSHIP BENEFITS Membership to Capital Club Dubai is STRICTLY BY INVITATION ONLY

POOL AND BEACH ACCESS The Ritz Carlton DIFC Jumeirah Beach Hotel Bab Al Shams Desert Resort & Spa Sheraton Jumeirah Beach Resort Palazzo Versace Dubai TENNIS AND SQUASH The Ritz Carlton Jumeirah Beach Pavilion Marinal and Sports Club Jumeirah Beach Hotel Sheraton Jumeirah Hotel

The club was opened in 2008 and has now OVER 1,400 ACTIVE MEMBERS

GOLF The Address Montgomerie Dubai The Els Club, Dubai CORPORATE HOTELS ACCESS The Ritz Carlton DIFC The Address Hotels & Resorts Dubai Dusit Thani Hotel Dubai H-Hotel Dubai Warwick Hotel Dubai Rove Hotel Dubai Madinat Jumeirah Dubai

The club is connected to MORE THAN 300 PREMIER PRIVATE CLUBS AROUND THE WORLD as part of its ‘reciprocal club’ network n CNN: ‘Top 10 Global Private Club’ line-up n GoBanking Rates: ‘10 Most Elite Hangouts in the World’ n Business Insider: ‘10 of the world’s most exclusive Members-only Clubs’ n Billionaire.com: ‘The world’s most exclusive Members’ Clubs’

RESORT HOTELS ACCESS Sheraton Jumeirah Beach Resort Dubai Madinat Jumeirah Dubai Jumeirah Beach Dubai LUXURY DISCOUNTS Abercrombie and Kent Grandvalira Resort Arabian Adventures CHAFFEUR SERVICES MGM Limousines MAJOR EVENTS Formula 1 Paddock Club, Amber Lounge (F1 events and hospitality)

PROMINENT ORGANISATIONS USING THE CLUB n n n n n n

AIG MEA Ltd Christie’s Enshaa ICAEW Knight Frank KPMG

n n n n n n

Barclays DIFC Courts Freshfields Bruckhaus Deringer Julius Baer Limited PricewaterhouseCoopers Paris Gallery Group of Companies

TOP SPEAKERS 2010 n Fadi Ghandour, Founder of Aramex n Hamdi Osman, VP of FedEx n Dr. Shamshad Akhtar, Governor of the Central Bank of Pakistan and Vice President of the MENA Region of the World Bank 2011 n Rabea Ataya, CEO of Bayt n JC Butler & Sim Whatley, Founders of Dubizzle com 2012 n Football Legend Fabio Cannavaro n Christopher Forbes, Forbes 2013 n Mark Shuttleworth, CEO of DU n lyad Malas, CEO of Majid Al Futtaim Holdings 2014 n Colm McLoughlin, Executive Vice Chairman Dubai Duty Free n Paul Griffiths, CEO of Dubai Airports 2015 n Sir Maurice Flanagan, Founding CEO of Emirates n Prof. Abdulkhaleq Abdulla, Chairman of Arab Council for the Social Sciences 2016 n Lord Falconer, Qualified Barrister & Partner, Shadow UK Lord Chancellor and Shadow Secretary of State for Justice n Dr. Liam Fox MP, British Conservative politician, Former Defence Secretary for the UK

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FEATURE . BUSINESS CLUBS

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The Business of Business Clubs Leading private members institutions, like Capital Club Dubai and its reciprocal clubs (including the Core Club in New York and Raffles Town Club in Singapore), open up a whole new world of possibilities – and plenty of fun to boot

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FEATURE . BUSINESS CLUBS

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I

n the world of business, there are few things as advantageous as having an extensive list of contacts. Whether they are on your smart phone or in an old-fashioned diary or Rolodex, it is all about whom you know. And, more importantly, the precious social capital that extends from such contacts.

This quality can be difficult to define precisely and is possibly best when distilled using the Arabic word ‘wasta’.

Of course, we all know this means influence based on a robust network of friends and associates – with ties that can be as strong as those of family.

Meeting the right people at the right times in the right places throughout your career can often be the difference between a new business opportunity and losing out to your competitors. Trade shows and other industrywide events are often promoted as being the principal networking arena for business, but they offer only a brief window for interaction and it can be difficult to locate and identify. It is tough to meet with key influencers within such a limited time frame.

Consequently, a growing number of professionals look for additional and alternative venues to cultivate their connections with their contemporaries at a more

leisurely pace. Increasingly, a number of people are finding that a range of private members’ clubs, with first-class facilities, are particularly well suited to this task. Sometimes, and depending on the club in question, the simple fact of holding a membership acts as an indication of your level of success and career accomplishment. It even indicates social standing to certain peers.

In fact, such clubs have long held an important place in the history of business. Their origins can be traced back as far as the simple coffee houses in the ‘City of London’ in the late 1600s, where insurers would gather informally

THE SIMPLE FACT OF HOLDING A MEMBERSHIP ACTS AS AN INDICATION OF YOUR LEVEL OF SUCCESS AND CAREER ACCOMPLISHMENT.

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FEATURE . BUSINESS CLUBS

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1. Capital Club, East Africa 2.

Raffles Town Club, Singapore 3. Kee Club, Hong Kong

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to discuss their trade. These gatherings spawned the creation of a range of illustrious insurance institutions, many still in existence today. They also precipitated the emergence of more structured organisations: clubs with formal membership processes.

A key concern for such institutions was often creating access to improved facilities. Established in 1727

by Benjamin Franklin, a Founding Father of the United States, the Junto club was built for the “mutual improvement” of its members. Beyond networking it also sought to create a private library formed of its members’ books, an invaluable resource for personal advancement in the 18th century.

Today, private members’ clubs have proliferated across the major developed cities of the world. Many boast their own premises that can range from townhouses to large country estates, and often offer better facilities than any five-star hotel. They generally employ a host of talented chefs, serving diverse dining experiences, as well as whole teams of staff to ensure their members are able to work, relax, play and socialise. Many also offer a packed social calendar of specially organised events that can vary in focus on business and networking,

CAPITAL CLUB LAGOS IS THE FIRST FIVE-STAR PRIVATE BUSINESS AND SOCIAL CLUB DEVELOPED IN NIGERIA. running from formal balls to chances to meet visiting star musicians, top entrepreneurs and other luminaries distinguished in their fields.

But what are the best clubs in the world? What marks out the greatest of these elite institutions? Well, in 2014, CNN produced a list of the top 10 exclusive members clubs in the world. This was followed in 2015 with a similar collection produced by Business Insider. Just five establishments appeared on both lists. Among that exclusive set was Capital Club Dubai and The Kee Club in Hong Kong.

But each club, whether in the top 10 or not, has its

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FEATURE . BUSINESS CLUBS

own unique qualities, character and wow factor. Raffles Town Club in Singapore, for example, opened in 2000 with the purpose of reviving the Old English tradition of elegant and exquisite urban living. It is a known favourite among the international membership of Capital Club Dubai when they are in that part of the world for business or pleasure.

This is true of Capital Club Lagos as well, the first five-star private business and social club developed in Nigeria. It is said by its founders to be “tailored to meet the needs of both established and emerging business leaders, top executives in finance and business, change makers, visionaries and social entrepreneurs fuelling the country’s growth”. Again, as with the Dubai institution, membership is strictly by invitation only.

Capital Club Dubai member, and Consilium Partner, Howard Leedham views membership as “an integral business tool”. He adds: “Any corporation that leases offices in the DIFC is missing out on a serious resource, if it is not a member. Whereas an office sees a central point of contact, it does not have outreach – the Capital Club achieves that. Whether for business or pleasure, it is an unrivalled resource within the DIFC and the UAE.” Meanwhile, Sylvia Neider – Founding Partner at SYNC Alliance FZE – feels that Capital Club Dubai membership has fast-tracked her networking experience in the region due to its “diversified environment” and “environment for executives from different backgrounds and nationalities”. She labels the club as an “info-tank”, adding: “I love hosting business events there as I know I will receive personalised customer service with a smile.”

The experiences that club members prize most from their membership are often as varied as each individual and often quite

SYLVIA NEIDER LABELS THE CLUB AS AN “INFO-TANK”, ADDING: “I LOVE HOSTING BUSINESS EVENTS THERE AS I KNOW I WILL RECEIVE PERSONALISED CUSTOMER SERVICE WITH A SMILE.”

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4 4. Core Club, New York 5. Capital Club Lagos 6. Capital Club Bahrain

surprising. Chris Bartlett – Microsoft’s General Manager of small and mid-market, solutions and partners for the Middle East and Africa region – recalls how his most memorable moment associated with joining the Capital Club in Dubai was meeting with the internationally renowned Chef Marco Pierre White in April. “I had always been fascinated by his story and his rise as the original celebrity chef and ‘enfant terrible’ of the culinary world,” says Bartlett. “It was fascinating to hear from him first hand as he spoke to a number of members and shared his stories.” For others, it is their club’s exclusivity that is key. This is certainly the case with Capital Club Dubai and its reciprocal club network.

But while the routes to joining generally might be reassuringly restrictive in terms of the high (but good value) membership fees, once you become a member – particularly of the top-flight establishments – further benefits soon present themselves.

Each offers reciprocal membership for each other’s members when visiting. And in the case of the Capital Club, access to a further 300 other private

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FEATURE . BUSINESS CLUBS

RECIPROCAL CLUBS In addition to the institutions directly affiliated with Capital Club Dubai, through their International Associate Clubs, there are other venues with which direct reciprocity relationships have been established: Arabian Peninsula ❖ King Hussein Club, Amman, Jordan ❖ Le Yacht Club, Beirut, Lebanon ❖ The Diplomatic Club, Doha, Qatar

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“AS AN EXPAT BASED IN DUBAI, WHO ALSO TRAVELS EXTENSIVELY, THE CLUB ‘FAST TRACKED’ MY NETWORK.” members clubs across all four corners of the earth, with which their club has similar agreements. This network of clubs greatly extends each member’s reach, giving them access not just to their own club’s facilities and membership of high achievers but to those of equal calibre across the world too.

Furthermore, private members clubs can be especially invaluable to those entering a new country, region or market.

While such people might consider themselves well connected in their homeland, with a wide range of contacts amassed over the course of their careers, they might be more akin to a fish out of water in their new environment. In such circumstances, the infrastructure and existing membership of a club can offer a bridge for quickly developing a new web of associates – as good or better than the one painstakingly assembled back home.

As Chris Bartlett puts it: “As an expat based in Dubai, who also travels extensively, the club ‘fast tracked’ my network and has given me instant access to influencers in a number of industries. This has served to be valuable in understanding the region and doing business in the region.”

Ultimately, the value of private club membership cannot be calculated in any crude financial cost-benefit analysis. Its value is as intangible as its opportunity – as priceless to grasp as it is to miss. And as in business, as in life, those who often benefit most are also those who put the most effort into cultivating the opportunities private members clubs provide. If wasta is king then contacts are queen, just remember that if an invitation to join lands in your inbox.

United States of America ❖ The Georgian Club, Atlanta, GA ❖ Midtown Executive Club, New York ❖ Terrace Club, New York ❖ Core Club, New York ❖ Washington Athletic Club, Seattle ❖ The Houston Club, Houston ❖ The Union League of Philadelphia, Philadelphia ❖ Jonathan Club, Town Club, Los Angeles ❖ Jonathan Club, Beach Club, Santa Monica ❖ Marines Memorial Club & Hotel, San Francisco, CA ❖ The Union League of Chicago ❖ The Algonquin Club of Boston Asia ❖ Capital Club Beijing, Beijing, China ❖ KEE Private Members Club, Central, Hong Kong ❖ KEE Private Members Club, Shanghai, China ❖ Bangalore Club India, Bangalore, India ❖ Madras Club, Chennai, India ❖ The Palms Town & Country Club, Gurgaon, India ❖ PYC Hindu Gymkhana, Maharashtra, India ❖ Circle Club, Silver Spring, Kolkata, India ❖ Spring Club, Silver Spring, Kolkata, India ❖ Space Circle Club, Raghunathpur, Kolkata, India ❖ Mercantile Athletic Club, Jakarta, Indonesia ❖ Raffles Town Club, 1 Plymouth Avenue, Singapore ❖ The Tanglin Club Singapore ❖ Sind Club, Karachi, Pakistan ❖ Pacific City Club, Bangkok, Thailand Australia and New Zealand

❖ Adelaide Club Australia, Adelaide, Australia ❖ The Northern Club, Auckland, New Zealand Canada

❖ The Saskatoon Club, Saskatchewan ❖ The University Club of Montreal, Quebec South America

❖ Club Europeo, Buenos Aires, Argentina Europe

❖ Château St. Anne, Brussels, Belgium ❖ Saint James Club, Paris, France ❖ International Club Berlin, Germany ❖ The Union International Club, Frankfurt, Germany ❖ Business Club Hamburg, Hamburg, Germany ❖ Pure Sky Club, Budynek Skylight, Poland ❖ The Royal Northern and University Club, Scotland, UK ❖ The New Club, Edinburgh, UK ❖ Real Gran Pena Madrid, Spain ❖ Haute SA, Zürich, Switzerland ❖ Naval & Military Club, London, UK ❖ East India Club, London, UK ❖ Royal Automobile Club, London, UK ❖ George Club, London, UK ❖ The Clifton Club, Bristol, UK

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COVER STORY . WATCHES

BUILDING A WATCH COLLECTION: TIPS FROM A SPECIALIST A comprehensive guide on collecting watches from a Capital Club member, Christie’s Watch Specialist based in Dubai

We asked Remy Julia, Watch Specialist for Christie’s and Head of Watches Middle East – India – Africa, to give us some advice on what to look for when you start taking your watches seriously.

The following will speak mostly to you when you realise that you do not wear the same watch every single day anymore, but surely you enjoy the meaning behind pulling this watch for that particular occasion.

Your taste and knowledge has evolved with time through your research.

Whatever the case, your mind is made up: you are going for a vintage wristwatch sooner or later, or at least a discontinued watch. In order to assist you in making the right choice, our watch department not only has a few tips for you, but also provides advisory services throughout the year and is the perfect place to pursue a collection.

AESTHETICS First and foremost, the basic rule of watch collecting holds true for any timepiece: pocket or wrist; modern or vintage; reasonably priced or high-end. You must at least like, although it would be recommended to fall in love with, the watch you are about to buy. It is very true that there may be profit to be made within the watch-collecting industry but that might be neither a possibility in the short or long term. As a private collector, rather than a dealer, you should operate with the idea of living with your timepiece for a very

long time, leaving the financial notions of return on investment in the background.

Not that you should be blind to market values, as knowing the market price is very important when making a purchase, but one should keep in mind that the right timepiece in the right condition may only be available on rare occasions.

COMPLICATIONS When considering adding a watch to your collection, you should also think of what you need in terms of usability versus your existing portfolio. Is it going to be a watch you use only for important events (your ‘Sunday’ watch) or do you need a faithful daily companion? Do you want a simple,

clean, easy-to-read dial or do you want something with a bit more of a kick? In the end, the answer to these questions will tell you how complicated a piece you want.

The budget is a topic only you can answer.

A complication is by definition any additional feature of a watch beyond hour and minute hands. Watchmakers have developed a nearly endless array of complications over the years, from the simple power reserve indication to complex calendar, chronographic or even sidereal functions. A good starting point for a vintage watch collector would be either a clean time-only piece or one of the two most classic complications: a chronograph or a calendar.

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COVER STORY . WATCHES

The chronograph is the quintessential complication (after all, it allows us to measure time on demand and has proven to be a quite useful tool in the history of mankind); furthermore the necessity for chronographic scales prompted the creation of some of the most charismatic dials ever designed, especially during the 1930s and 40s.

Calendars, on the other hand, are among the most useful complications. If you are veering toward a calendar timepiece, keep in mind there are different ‘tiers’ of calendar wristwatches: from the simple ‘date only’ to the almighty perpetual calendar, which takes into account the leap year cycle and has to be manually adjusted only once every 100 years.

RARE VARIATIONS When it comes to vintage watch collecting; a paramount factor is the rarity of a watch.

Some models are intrinsically rare, made in as little as a few dozen pieces overall and then discontinued for some reason or other.

Other models have been indeed realised in higher numbers, but certain examples within the series present variations such as a different case material or an unusual dial layout, or an important retailer’s signature—such as Tiffany (United States), Cartier (France), Hermes (France), Beyer (Switzerland), Astrua (Italy) and Serpico y Laino (Venezuela) among others. Auction results of these double-signature dials are fetching much more than regular examples. Some other watches were ordered directly by head of state or government for gifts, supplying their army or police. You can find various examples in the market, almost present in each and every auction.

Among the most notorious ones from our region and appreciated by collectors from all over the world are dials made for the United Arab Emirates, Oman and Iraq, with variations per country such as coat of arms, airforce, army or ministry of defence logo to name but a few.

Finally a colour shifted, so called ‘tropical’ dial often due to a combination of factors: quality of coating and storage conditions results in a colour change of the dial, making the watch desirable.

For many collectors, part of the appeal of vintage watches is the possibility of finding such variations. While sometimes these unusual pieces command a premium, this

is not always the rule and it is possible to acquire nearly unique wristwatches at virtually any price point.

CONDITION Condition has always been a highly relevant factor within watch collecting, but recently it has seen a steep increase in importance. The result at auction of over-polished watches versus mint and untouched examples varies sometimes from 20-30 per cent to double the amount and more.

You want to make sure that the vintage piece you are about to call yours is as close as possible to the original condition.

Many manufacturers provide access to their archives: if provided with the watch

THE MARKET ONLY VALUES WATCHES CLOSE TO THEIR ORIGINAL CONDITION. POLISHING AS AN EXAMPLE CHANGES THE PROPORTIONS OF THE CASE REDUCING VALUE AMONG COLLECTORS. serial numbers (case number and movement number) along with crisp pictures of the watch, they will be able to tell you at least the year of production and sometimes additional details such as the dial configuration, the case metal and other information. Of course, the watch should match the information present on the archives to make it legit from a collector’s perspective. It is also highly desirable that no parts (such as the crown, or the chronograph pushers) have been exchanged during a service over the years. You often see the case of vintage Rolex Daytona with service pushers simply because these were automatically changed by the brand at the time of service. The dial has to be well preserved and unrestored.

Ideally, collectors look for ‘new old stock’ pieces: watches that have been bought and immediately put in a safe to be taken out just before being sold. Obviously

such items are as rare as the usually high premium they demand.

PROVENANCE A further layer of appeal can be given to a vintage watch by its provenance. Freshto-the-market and original owner pieces are watches which have, respectively, never been publicly sold. Or even better are offered by the original owner who first purchased them from a retailer. Also, the presence of the original box and warranty is held in high regard for vintage watches as these items provide, on the one hand, an additional layer of historical appeal and originality, and, on the other hand, boost the rarity of the piece: box and papers were usually promptly discarded and vintage watches which arrive to us still bearing their original sale kit are a very small fraction of the overall availability of the market. Finally, if a watch was owned by a remarkable individual—such as politician, explorer, artist or celebrity—it will be much more interesting to the eyes of collectors.

My day-to-day at Christie’s is to be constantly close to the market offerings and the ever evolving taste of collectors.

We organise two auctions per year in Dubai, opening the season respectively in March and October. I generally travel one complete week to each international auction in Geneva, Hong Kong and New York in order to inspect watches in-depth and advise clients from our region on what has caught their eye, looking for advisory in term of where to place their interest or ‘bid’. The rest of the year, my agenda is filled with advising all kinds of watch enthusiasts, young collectors and established private collectors looking for assistance in the curation of their collection, sometimes reshaping their portfolio of watches to match their ever evolving tastes. We are open to all and remember that it is our duty to give a true point of view on the market of fine watchmaking.

Remy Julia is Watch Specialist for Christie’s and Head of Watches Middle East – India – Africa

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COVER STORY . WATCHES

FROM ONE GENERATION TO THE NEXT: The Collector’s Guide to Patek Philippe Perpetual Chronograph Wristwatches When watch collectors think of Patek Philippe, they generally think of the round perpetual calendar chronograph wristwatch.

This combination of complications has grown to define Patek Philippe as a brand and the watches under this umbrella have become the watches that are at the heart of horological legend.

These trophies of horology have become icons of watch investing and are now considered wearable works of the art. Many consider

them as the ‘holy grail’ of all timepieces ever made. Since first launched in 1941, there have been five major evolutions, or generations, of the Patek Philippe perpetual chronograph.

This article will explain the major differences in each style of this closely related multi-generational family and unlock the basic variants between Patek Philippe’s signature timepieces of the last 75 years.

The Great-Great Grandfather

The Great Grandfather

The Grandfather

Production: Approx. 281 Made in yellow gold, pink gold, and very few in steel Caliber: Valjoux Diameter: 35 mm It all began at the Basel Show in 1941 when the original patriarch of the family was revealed to the world. As the first perpetual chronograph to be made in series by any maker, the watch quickly attracted the attention of royalty and the privileged including King Farouk of Egypt, the King of Jordan and of course Henry Graves Jr, arguably the greatest watch collector of the 20th century.

The 1518 was a design first and set the design template for all of its descendants with its basic layout with apertures at 12, two chronograph registers at 9 and 3, and a moonphase at 6. Its square push buttons, attractive mid-century design, and beautiful raised enamel dial tachymeter make this watch the desired timepiece of choice for knowledgeable and experienced collectors today.

Production: Approx. 349 Made in yellow, white and pink gold, and 2 examples in platinum Caliber: Valjoux Diameter: 36.2 mm / 37.7 mm Widely acknowledged as one of the world's greatest watch models ever created, the 2499 has strongly influenced the designs of many of the most renowned watchmakers. Over 35-year period, the 2499 was made in four separate series with a total production of only 349 pieces, the majority cased in yellow gold. The rarity of this model becomes evident when considering that an average of only nine watches left Patek Philippe's workshops annually. The tell-tale ridged lugs instantly differentiate this watch from its predecessor and the larger diameter of this timepiece makes it attractively wearable on the modern wrist. A 2499 is considered the ultimate statement watch today, instantly recognisable and coveted by collectors of modern and vintage alike.

Production: Approx. 4,200 Made in yellow, white and pink gold, and platinum Caliber: Lemania Diameter: 36 mm The third iteration of the celebrated perpetual chronograph line, the 3970 is the heir to the legendary 2499, with which it shares the unmistakable case construction characterised by its sculpted lugs. Smaller in size, it replaces the Valjoux caliber of its predecessors with a Lemania caliber.

The dial acquires two new indications: the 24-hour indication and the leap year indication, ingeniously placed inside the subsidiary dials at 6 and 9, therefore keeping the overall look and feel of the dial very similar to that of reference 2499. The 3970 represents the first ‘production era’ perpetual chronograph from Patek Philippe. Given the higher volume produced, the 3970 is more easily accessible in terms of price point with pieces still available for well under $100,000 in the current market.

Reference 1518 (1941-1954)

Reference 2499 (1950-1985)

Reference 3970 (1986-2004)

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COVER STORY . WATCHES

ALL IN THE FAMILY

The Father

The Son

Production: Approx. 2,800 Made in yellow, white and pink gold, and platinum Caliber: Lemania Diameter: 40 mm Considered one of the most perfect watches ever made by Patek Philippe in terms of design, it also holds the honour of having the shortest run of the family being in production for only 6 years. Also equipped with a movement based on a Lemania ébauche, it is heavily modified and finished by Patek Philippe and is the last perpetual calendar chronograph of the company featuring the Geneva seal on the movement as Patek Philippe began stamping their movements with the seal from Spring 2009 as a new quality benchmark for its mechanical timepieces. When released in 2004, the model immediately enjoyed enormous popularity among collectors and was available in white gold or pink gold only until 2007 when the production of these two versions ceased. Reference 5970 in yellow gold was in production only in 2008 and remains the rarest of the four colours. From 2008 until the end of production, the model was available exclusively in platinum.

Production: Currently unknown Made in white and rose gold Caliber: In-house Diameter: 41 mm Reference 5270 was introduced to the market at the Baselworld watch fair in April 2011. It replaced the celebrated reference 5970 and the white gold version was launched in 2011, followed by the pink gold version in 2015. It houses the latest 29 535 PS in-house caliber with Patek Philippe's new hallmark of excellence, the PP seal. It also features an additional day/ night indication on the dial, as well as a separate leap year cycle. With the 5270, constant seconds and 30 minute registers are featured on their own subsidiary dial and two small apertures on either side of the date/moon phase subsidiary indicate the leap year and night, and day. The 5270, the youngest member of the family, is truly the young ‘son’ in the greater family tree of perpetual calendar chronographs. It is not yet fully appreciated, generally undervalued, and quietly undergoing dial changes year to year that attract the attention only of the most critical collectors. Could this young model be the collector’s item of the future? Only time will tell, but if the past truly informs the present this is a good watch to buy at the right price today.

Reference 5970 (2004 – 2010)

Reference 5270 (2011 to present)

Incredibly, after a 75-year ongoing production run, all the perpetual chronographs in the Patek Philippe line carry very similar characteristics. Besides the mechanical and aesthetic evolutions between generations, the same DNA exists between the earliest 1518s made in the 1940s and the 5270s of today.

In additional to those featured, other variants include many close relatives of the round Patek Philippe perpetual chronograph such as the cushion shaped 5020 ‘TV-set’ and the split-seconds 5004. There are also diamond and jewelled versions of these references, caseback variants, bracelet versions and countless dial variants.

Dials have become a defining characteristic of determining the value of many perpetual calendar chronographs. In particular, modern references with special order dials - often called ‘unique’ dials - have been surfacing in recent years and they continue to excite the market.

With such a wide variety of choices, one must consider the fact that owning a Patek Philippe perpetual chronograph is a riteof-passage for newly-minted collectors or simply someone who is attracted to owning the very best.

From $50,0000 to well over $5million, there are versions of this classic watch for a wide spectrum of budgets. The laws of supply and demand rule the day when it comes to buying such a watch. Many can afford to own one of these superlative timepieces, but it begs the question – can you afford not to own one?

John Reardon is International Head of Watches at Christie's and author of Patek Philippe in America, Cefari Publishing, 2008.

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SPONSORED ARTICLE

‘Investing in time’ Luxury watches are quickly emerging as a solid asset class, providing a great return for investors phenomenon has drastically affected the retail arena across the board, leaving permanent scars in the watch industry alike. The increasing sources of reliable information for watch buyers has made purchasing through previously ‘unreliable’ vendors, a much safer activity. If you know Rolex Cosmograph Daytona 6239 Paul Newman 1966 what you’re looking for (Black and Red Hardwear Tropic Dial) and can identify a fake, what can go wrong? Quite a lot actu- widely spread between multiple organisaally, but we won’t go into that right now. tions, that the lengths one would have go The consumer is more informed and to accumulate it all and make an assessempowered than ever before, which is ment would be near impossible.

An experienced alternative asset creating a smart and highly social online investor would almost certainly have conmarketplace.

Watches are no longer looked upon sidered watches as a potential investment as temporary adornments or gifts to area, yet so few act on this direction. The mark an occasion, but are seen by more reason for this is that the level of access and more as a prospect for investment. to the pieces and the knowledge that surSo, how does one identify a piece worth rounds them is still, to a certain extent, restricted. This mostly comes down to a investing in?

Frustratingly, the answer is not as lack of regulation, exposure or translasimple as reviewing the back of the Finan- tion of the subtleties that affect a watches cial Times or a single google search. The value. While the information exists out buyer requires a very discerning eye and there, the lack of content directed towards a desire to research into such fine detail the beginner but which could also inform that he or she knows a veteran is hard to come by.

As with most investor markets a lack the piece they’re hunting like the back of their of confidence is the main thing holding hand. The buyer is also back the frequency of investment. With required to have vast clearer information and guidance, the knowledge of vendors to investor can act with more confidence. consider, how condition There is now a general realisation that and originality affect the watches are a strong alternative asset pricing of a piece along investment class, and so has grown the with having encyclopae- role of the ‘watch advisor’ or ‘watch Investors dic recall of particular investment consultant’. reference numbers and can rely on good advice on a personal model names. Auction basis, but still without a properly regudata is publicly avail- lated investment marketplace, this still able but is incredibly remains a relatively exclusive and pridifficult to decipher vate activity. The buying guidance one and plot average pric- receives from a consultant curator is still ing. Not to mention that largely based on opinion than hard fact.

Rolex Cosmograph Daytona 6239 Paul Newman 1966 It’s clear then that a well-structured (Movement Caliber Valjoux = 722) the information is so

For decades, watches have been considered an alternate means of storing wealth. The mechanical artistry teamed with precious materials like gold, platinum and silver leave no wonder as to why these items are treasured and collected.

Unlike liquid cash, precious objects almost always increase in value over time. As you would expect, many items sold through respectable auction houses will be worth more than the original value; occasionally considerably more.

It would be a mistake to think that the sole consideration in the watch buying process is intrinsic value or purely investment. The truth is quite the opposite, in fact the sense of luxury as an experience is of great importance, rather than just an object one could buy. This notion is difficult to measure and from a brand’s perspective difficult to deliver.

The feeling of luxury is an experience the wealthy are willing to pay irrational sums for. That being said, some of the most highly regarded watch brands have always managed to create such beautifully made pieces, with their value often increasing exponentially.

Since the rise of online purchasing, with websites like eBay, we have seen a dramatic increase in aftermarket and auction trade. This international

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SPONSORED ARTICLE

Patek Philippe Celestial Sky Moon 5102J-001 2008

investment platform, based on in depth market knowledge rather than trends and style, can hold an important place in an investor’s portfolio. Alternative investment funds such as Khronos Capital Limited managed by 3 Capital Limited (regulated by the DFSA) have taken careful consideration into account of spikes and trends in the market, and have teams of experienced watch traders, making informed purchasing decisions on special and hard to find pieces. Khronos, as just one example of funds to appear in the alternative space, has developed an investment fund offering compelling returns on an asset class that is generally under invested.

The buying knowledge and power behind a fund such as this is as crucial as it is reassuring and knowing how these

Richard Mille RM011 Red Gold 2016

it is only recently that anybody in the retail or financial markets have been able to collate reliable figures on buying and selling, through the second hand and auction markets.

How then do you really rely on investment information?

Watch funds will no doubt become a reliable source for investment and associated information, by collating an enormous amount of data on the auction and second hand sales markets through a large network of trade partners. Khronos in particular has managed to structure a reliable purchasing and return model for investors and is looking to raise up to £20m against this model this year. Keep

Audermars Piguet Royal Oak Offshore Tourbillion Chronograph Platinum 2014

Audermars Piguet Royal Oak Carbon Concept Chronograph Tourbillonm 2010

funds are put together would give any enthusiast or watch collector confidence in the future of the marketplace.

There are several interesting factors appearing to affect the slow uptake of watch investments. One core issue is that there is no existing international regulated index or regulated market for the trading of watches. They are not a commodity like gold or a perishable like sugar. They are not produced in low enough numbers to have a closed market (it’s open to any consumer to buy a new Rolex or Patek Philippe, but this is not necessarily the case with the finest wine and supercars on the market, which are more exclusive and closed).

And watches in general have not been re-sold frequently enough to produce really accurate, reliable data (private sales, often for cash, were the mainstay of the trading market before the internet, so nothing was recorded for decades). So

an eye on funds like these.

Twelve Group provides independent advice to collectors and financial institutions on watch collecting and publishes multiple titles of their own and for the watch industry. Twelve works with Khronos to provide independent valuations for the fund’s activities. Twelve is a boutique company of watch fanatics, each with their own rich background such as creative production, data analysis, design and portfolio curation. The company is dedicated to producing information and editorial content for watch collectors, not only to help them make the right buying decisions, but to gain insight on market trends and opportunities.

With partnerships between editorial and consultancy businesses like Twelve and financial platforms like Khronos, the marketplace becomes evermore exposed and accessible, and safer for the general new collector or investor.

For any questions relating to Khronos or Twelve, or to grow your watch passion from today, you can forward your enquiries to operations@3-cap.com, info@twelvejournal.com

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FEATURE . TAILORING

Dress to impress – a You can embrace your inner gentleman and achieve sartorial elegance by focusing on the details and

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FEATURE . TAILORING

Why is there a buttonhole on suit lapels, where did this convention originate?

Back in 1840, Prince Albert of SaxeCobourg and Gotha married Queen Victoria of England. When she presented him with a flower at the ceremony, he pulled out a knife and slit a hole in his lapel so that he could display the flower prominently. And so a tradition was born. From then on, Albert ordered his bespoke tailor to put a buttonhole on all his suits. The masses followed suit and the lapel buttonhole came to represent gentlemanly conduct, something that never goes out of fashion.

There are only two types of tailoring, English and Italian. But what differentiates the two disciplines?

Originating in England some 400 years ago, bespoke tailoring started life as a craft to ensure military uniforms were fit for the battlefield. The well-cut suits were designed to ensure men stood straight and felt good as they went into combat.

Much later, Anderson & Sheppard of

guide to bespoke suits following some golden rules – here are some things every man should know London’s famous Savile Row evolved the ‘drape cut’ (slim fit yet comfortable) concept into the lounge suit so common today.

Known for the fuller chest and draped over the midriff, this cut made for a smart yet relaxed look. It was achieved by cutting against the grain of the fabric in a diagonal manner, allowing the stretch properties of wool (a suit should always be wool) to conceal the flaws of any body shape.

The Italians, specifically the tailors of Naples trained on Savile Row, then took the bespoke craft to the Mediterranean in the early 1900s. They altered the concept to Sprezzatura (a certain nonchalance), adapting it to the warm weather with lighter fabrics and a dash of creative flair. A Neapolitan jacket is made without a lining and suits are often made with vibrant colours and worn with slip-on shoes, as opposed to the classical and more structured English style.

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Any man who is a global citizen should maintain a wardrobe including both English and Italian bespoke suits. Both have their place and both serve an important purpose.

The word bespoke is thrown around a lot, but what does it actually mean – and how is a tailored suit different from a bespoke suit?

Two forms of tailoring exist, made-tomeasure and bespoke. Henry Poole, the most revered tailor on Savile Row coined the term ‘bespoke tailoring’ for when a suit had been ‘spoken for’ by a customer in terms of the exact measurements and chosen fabrics. Bespoke suits are almost completely crafted by hand, involving hundreds of man-hours, and every small detail – from the lapel style to the button thread colour – is picked by the customer.

Around 50 body measurements are taken and there are usually two or three fittings involved in the process. Bespoke tradition also dictates that the ‘hands that measure are the hands that cut the suit’.

In contrast, made-to-measure suits are mass produced with minimal measurements taken and mainly machine cut.

The measurements are compared to ‘off the peg’ templates and this pre-cut pattern is adjusted to accommodate the size of the person commissioning the suit. It means the made-to-measure suit is not able to achieve that ‘second skin’ feel of a bespoke suit.

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1. A view of the workroom at Henry Poole and Co., showing tailors at work. 2. The lapel buttonhole came to represent gentlemanly conduct. 3. Bespoke tradition also dictates that the ‘hands that measure are the hands that cut the suit’.

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FEATURE . TAILORING

Given that a suit lining is rarely glimpsed, how much thought should you put into choosing it?

It is a very personal thing, allowing you to express yourself. Those who go for a simple but sophisticated lining usually have the same minimalist approach to life in general. The more outgoing personalities will want something a bit more bold and edgy in order to reflect their character.

When you take off your jacket, others will get a glimpse of your inner self so to speak. Therefore, it is sometimes fun to jazz up a conservative work suit with a vibrant lining. Conversely, with a statement suit it works well to go for a subtle lining that accentuates the vibrancy of the suit by way of a modest contrast.

In addition, the lining is there to play with. For example, on a wedding suit the groom might match the lining to the bride’s dress. Just have fun with it. That is the key.

BRITISH STYLE

Savile Row The British suit is created in the tradition of the bespoke suit-makers admired for their exquisite tailoring in London’s renowned Savile Row

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What are the golden rules for accessorising when it comes to matching suits with shoes, ties, pocket handkerchiefs, cufflinks and so on?

Here, you must try to achieve a nice balance. Any accessories should appear effortless and natural, not forced or contrived. You need to project your sartorial elegance, showing that you have given thought to the accessories rather than just

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BACK VIEW

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Grey double-breasted herringdone suit

Double vents flare at the bottom of the coat

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Regular collar checked shirt

High waist pleated trousers with cuffs

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Regimental tie 4

Flapped ticket pocket 5

Wide notched lapels

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Defined shoulders and high armholes

Illustrated by Tarak Parekh

FRONT VIEW

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FEATURE . TAILORING

going for something obvious – or worse still, something loud.

The first rule is that your tie and pocket square should never match. It is too obvious and suggests you always go for the easy option in life. They should complement each other by being from the same family of colours, but in different shades.

Also, go for an interesting pocket square fold, not just the standard four-in-hand – in order to make a strong statement.

Cufflinks could be themed around your profession or hobby. For example, a writer may have cufflinks in the shape of a pen. It would surely be a great icebreaker and lead to an interesting conversation in the boardroom or at a social function.

BROWN SHOES ACTUALLY MATCH WITH MORE COLOURS THAN BLACK, A TRUE BUT LITTLE KNOWN FACT. BUT BE CAREFUL; DON’T GO FOR THE GARISH OPTION. When it comes to shoes, you have to branch out beyond the traditional black shoe with every suit. It suggests your wardrobe is not yet mature. Brown shoes actually match with more colours than black, a true but little known fact. But be careful; don’t go for the garish option.

Again, it is all about a measured approach.

Dark chocolate-brown shoes should be worn with navy-blue and charcoal-grey suits. Lighter hues of blue and mediumgrey can be paired with tan-coloured shoes. If you really want to push the boat out, match your shoelaces to the colour of your suit. This will communicate your attention to detail to others.

Mastering the art of dressing well is something every man should strive for.

Being a man is a matter of age. Being a gentleman is a matter of choice. Wearing it well proves you made the right choice.

ITALIAN STYLE

Sprezzatura The Italian suit is distinguished by its narrow silhouette, using the finest materials and exquisite craftsmanship.

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FRONT VIEW

BACK VIEW

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Single-breasted narrower suit with longer coat

Non-vented coat

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Narrower non-cuffed trousers

Longer collar pencil stripe shirt 3

Wider silk solid-colour tie 4

Dressy besom pockets 5

Higher lapel notches

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Accentuated shoulders with higher armholes

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FEATURE . TAILORING

Take care of your suit and it will take care of you While anyone can buy a bespoke suit, it takes a special type of gentleman to be able to maintain the garments in good shape over their lifetime – writes Max Girombelli

T

he cornerstone of any man’s wardrobe is the suit. Even though there is so much to ponder when exploring the two or three pieces that make up one’s ensemble, we should also focus on a different topic. That is – how to take care of your wardrobe if you are a gentleman and fine purveyor of suits.

Your suit is the heart of your wardrobe and great care must be taken to ensure you get a long life from each one.

Proper maintenance of a garment constructed of the finest quality fabric can bring a lifetime of wear.

This practical guide is universal to every fine cloth, although a garment made from Duca Sartoria ensures its owner of certain quality distinctions. As a point in

fact, we select the best Italian fabrics in the world as Loro Piana and Ermenegildo Zegna, as well as from England as Holland & Sherry and from France as Dormeuil.

All of them are the most conspicuous and prolific users of exceptional premium fibres with the unrivalled finest raw materials available worldwide. However, there are some essential steps on how to maintain and protect your finest clothes for decades to come.

First of all, there is the do-it-yourself valet. All it takes is 30 seconds and a clean brush with stiff bristles to clean your garments after each outing. Brushing your suit jacket and trousers after each wear is important because it removes the dirt and food that have accumulated on the outer layers before they have the chance to settle into the fabric.

Also, you should always hang a suit jacket on a proper hanger with formed shoulders and trousers on a velvet holder in fresh air. It revitalises the garment. A few hours later, hang your suit in a bathroom that has been filled with steam. It is important to keep the door shut in order to maximise the intensity of the steam.

Second, you should consider garment alterations and repairs as necessary maintenance. Are your trousers too tight in the backside? If so, you will very likely split the seam before you lose the weight. Best to have the trousers opened up two centimeters – they will look and feel better.

Does that suit jacket button look like it’s going to fall off? Burn the thread a little bit, so it will not open more and then take it to be repaired. Once it falls off and you

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FEATURE . TAILORING

lose the button, you will either spend hours trying to match it or spend money on an entirely new set. By the way, did you know that Duca Sartoria offers free alterations on Duca garments only?

Third, we move to dry cleaning.

Cleaning instructions for garments woven of fine woolen and precious fibre, such as cashmere or silk, are straightforward.

They should be professionally dry cleaned by a reputable service provider. We must keep in mind, though, that it is important not to clean a garment too many times.

Dry cleaning should only happen when your suit gets extremely dirty.

Some purists have their suits only steamed and lightly-pressed as little as once a season. That is because your cloth is made from organic materials that were, by their very nature, never intended to be cleaned by chemical products.

Fourth, let’s talk about the big enemy – stains. Although the temptation to remedy a stain at the moment of inception is the instinctual response, please remember that club soda is for cocktails

IT IS IMPORTANT NOT TO CLEAN A GARMENT TOO MANY TIMES. SOME PURISTS HAVE THEIR SUITS ONLY STEAMED AND LIGHTLY-PRESSED AS LITTLE AS ONCE A SEASON. only despite the common myth around its cleaning properties.

The best way to counteract a fresh stain is to immediately blot the surface with a dry white cloth. Using water only causes the stain to set quicker. Despite the obvious inclination to do so, scrubbing just damages the natural fibres.

Fifth and finally, we can consider how to remove wrinkles. Whoever is in charge of your suit’s health, should know first to check for any stain that can or cannot be remedied.

The heat and steam of pressing will make stains more resistant to removal.

So it is best to place a towel between the ironing board and the garment, which will help to protect buttons and other embellishments when ironing the inside of garments.

And last but not least, go slowly and use patience. Nobody else will ever have the passion and dedication to care for your suit the way you will so please do yourself justice and take it seriously, as any true gentleman does.

Should you have any questions whatsoever, I will be very happy to discuss with each of you personally during my stay at the Capital Club.

A presto m@x” www.ducausa.com

Max Girombelli is Founder of Duca Sartoria Tailors and a Capital Club member

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REVIEW.TRAVEL

London – a place where history meets modernity Immerse yourself in a range of cultural experiences in the ‘big smoke’ this summer – from opera to fine dining, this capital city has it all London is basking in a new found glow having just stolen the crown of most popular European capital from its rival Paris in terms of numbers of visiting tourists.

After a spectacular couple of years featuring a Royal wedding, a Diamond Jubilee and an all-singing-all-dancing Olympics, the city now attracts some 17 million visitors from around the world – making it a truly global hub. And summer, when the city is at its most relaxed and playful, is the best time to enjoy it.

The summer of 2016 is also an interesting time as it marks the 350th anniversary of one of the most famous disasters to hit London, when an accidental spark from a baker’s oven started the Great Fire of 1666 and burned a third of the city to the ground.

Diarist Samuel Pepys wept at the sight and records from some of the 100,000 people made homeless by the fire describe the lead roof of St Paul’s Cathedral melting in the heat and the towers of London Bridge gutted to gaunt, smoking ruins.

A major exhibition at the Museum of London tells the story of the catastrophe alongside displays of some of the city’s most interesting archaeological discoveries and moving letters written by people who escaped the flames. Not everyone wept for what had been lost, however.

Some, such as the great architect Sir Christopher Wren, saw it as an opportunity to clear away the slum-like warren of medieval alleys and transform London into a greater more elegant city.

While Wren did not achieve the wholesale remake of London he had in

mind – livery companies like the Mercers and Merchant Taylors being too quick to rebuild their grand halls on the old medieval plan – he did give the city 51 new churches (including St Bride, the so-called ‘journalists church’ on Fleet St), the Royal Observatory at Greenwich and his defining masterpiece, a new St Paul’s Cathedral.

Yet shaping the nature of the city eluded Wren, as it has done everyone else.

Even today with dozens of new skyscrapers sprouting from the layers of history below, the capital city somehow man-

“WHEN A MAN IS TIRED OF LONDON, HE IS TIRED OF LIFE; FOR THERE IS IN LONDON ALL THAT LIFE CAN AFFORD.” ages to incorporate ancient Tudor pubs, village-like neighbourhoods and architecture from every era. In fact, the city centre has seldom looked better with exciting new development projects everywhere you look – including a new Mathematics Gallery at the Science Museum from the late, great British-Iranian Architect Zaha Hadid. The latter is due to open later in the year.

One of the most anticipated is Herzog and de Meuron’s 10-storey £260 million addition to the Tate Modern, the city’s

most visited contemporary art museum.

The striking, twisted ziggurat composed of chainmail brickwork sits behind the original gallery and is a dynamic addition to London’s skyline. Inside, vast spaces with panoramic views are hung with a refreshingly diverse collection: the work of 300 artists from more than 50 different countries offering – in the Tate’s words – “a new view of the world”.

To go with the art is an impressive, fine dining ninth-floor restaurant serving a British menu of Rare Breed beef, Swaledale lamb and Cornish fish sourced from the very best small suppliers.

Other exciting new food experiences include the Kitchen Table of Chef James Knappett and his Saudi-born Asian-American wife Sandia Chang. There is a superlative 14-course tasting menu on offer for just 19 diners a night. Other examples of great new British cooking can be sampled in the luxurious dining room of the refurbished Athenaeum Hotel in Mayfair. Overseen by the Michelin-starred Galvin brothers, the menu focuses exclusively on British dishes incorporating simple, but superlative seasonal ingredients. To match the food, the five-star, family-owned hotel has had a glamorous refit worthy of its high profile guest list.

But while quality British food is currently seeing a significant renaissance in the capital, there’s really little to unify the city’s diverse food offerings. From the delicious fattoush salads at Ottolenghi and the epic lamb raan buns at Dishoom to hunks of Stichelton at cheese purveyor La Fromagerie, there are as many cuisines here

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REVIEW.TRAVEL

THE ROYAL AUTOMOBILE CLUB – LONDON AND SURREY One Club, Two Clubhouses – Your Home from Home in the UK Part of the Capital Club’s reciprocal club network.

The Royal Automobile Club, Pall Mall

The Royal Automobile Club , Surrey

Founded in 1897, the Royal Automobile Club is today one of the foremost private members clubs in the world, as well as the UK’s spiritual home of motoring. What makes the club unique is its two clubhouses, both perfectly situated for visits to Britain and less than an hour from London’s Heathrow and Gatwick airports.

The Pall Mall clubhouse is in the heart of London’s West End with 106 bedrooms, dining, banqueting and sporting facilities. The location makes for a perfect stay, whether on business or leisure. It is just minutes from London’s best known landmarks including Buckingham Palace and Trafalgar Square. For lovers of theatre, ballet and opera, London’s finest theatres and Royal Opera House are within walking distance.

It was Dr Johnson, the famous English writer who said, “when a man is tired of London, he is tired of life; for there is in London all that life can afford.” You will never tire of the Pall Mall clubhouse, however, should you like to explore, the Club’s country clubhouse at Woodcote Park, set in 350 acres of Surrey parkland with two 18-hole golf courses, sporting facilities, dining, banqueting and 23 beautifully refurbished bedrooms provides a quintessential English country house experience. Ideally situated for the Epsom Derby, the world’s greatest flat race, linked by a private road to the race course.

For your next stay in the UK, let us help you make your visit truly memorable.

Further details can be found at www.royalautomobileclub.co.uk

as there are languages spoken in Borough Market. And while many of today’s standouts are in neighbourhoods well beyond the West End – such as Shoreditch and Dalston – central London is far from over.

Just off Park Lane, London’s Four Seasons hotel has created a ‘secret garden’ for the summer where Veuve Clicquot concoctions will be a specialty amid the poppies and scented jasmine. Further east, from July 25th, in Norman Foster’s iconic Gherkin – 30 St Mary Axe – the top floor dining space, usually only accessible to members and workers in the building, will be transformed into a Summer Sky Riviera.

At the reopened five-star Café Royal Hotel, they are marking the 400th anniversary of Shakespeare’s death with a Midsummer Night’s Dreaming experience, which includes accommodation in the Tudor suite and theatre tickets for the performance of Henry V at Regent’s Park Open Air Theatre. Over on the South Bank, The Globe Theatre is also running a series of commemorative events.

If you are thinking of going, consider taking a picnic to enjoy in the wildflower meadow on the roof of the nearby Queen Elizabeth Hall. Or kick back on the South Bank beach where 85-tonnes of white sand, Brazilian-style barbeques and beach games will attempt to recreate the atmosphere of the Rio Olympics – weather permitting of course.

A visit to the Royal Automobile Club on Pall Mall (see further information to the left) is also a must. This private club is open to Capital Club members.

As well as being the spiritual home of motoring, the Pall Mall institution has 106 bedrooms, stunning dining and banqueting rooms, one of the finest swimming pools in the country – all within a few minutes by foot or taxi of Buckingham Palace, Trafalgar Square and the Royal Opera House to name just a few of the local attractions.

London is a city where the pace of change can confound even the locals. It is a city that can seem big and impenetrable.

But this ever-changing and regenerating capital can also charm you with its beauty from the wind-rustled plane trees in St James Park to that winding River Thames. The mix of people and abundance of culture also make it a city that will take you by surprise you and, ultimately, win you over.

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MEMBER'S view . MARK BEER

“For the DIFC Courts, much like the United Arab Emirates, good is not good enough.

Our ambition is to be the world’s leading commercial court.”

Modern commercial courts should rank among the Gulf’s foremost achievements Mark Beer, Chief Executive and Registrar at DIFC Courts and freshly appointed President-Elect of the International Association for Court Administration, explains how the region’s financial centres can become modern day leaders In the long list of Dubai’s achievements over the past two decades, the creation of a modern, efficient and accessible commercial court may seem relatively modest Yet the development of the Dubai International Financial Centre Courts has been vital to the city’s emergence on the world stage.

Across the Gulf, creating dedicated English-language, common law commercial courts to serve the needs of business has become a trend. Dubai, Qatar and soon Abu Dhabi all have specialised business courts, while further afield, countries like Kazakhstan are looking to develop a system similar to the DIFC Courts.

Proven mechanisms by which contracts can be honoured are key to capturing a slice of the $1.5 trillion in global investment flows. Few rational companies would invest money, resources or intellectual property in a country with questions marks around legal protection.

Effective commercial courts also allow local companies to thrive. The interest charged on loans, for instance, is influenced

by the risk of a default not being enforced.

Evidence suggests that the disparity between credit rates in markets with good commercial courts to those without is as much as 200 basis points.

Markets with an effective commercial justice regime are estimated to grow half a percentage point faster than markets without. Effective commercial courts have helped to underpin the economic competitiveness of the Gulf and have become major points of difference within the region in the race for global investment.

But actually creating a modern, efficient and accessible commercial court is easier said than done. You need to consider four vital elements.

The first is technology. Investment in technology was arguably the catalyst for the DIFC Courts to go from a start-up to one of the world’s leading English-language commercial courts in less than a decade. It allows for greater fairness by ensuring both sides are informed of court matters at the same time, while enhancing accessibility.

The second ingredient is attracting and retaining the best judges and support teams. The Dubai and Abu Dhabi offices of the world’s biggest law firms now boast partners of the highest calibre, and the emirates are an increasingly attractive proposition to the world’s finest judges.

The third factor is service. For too long, many courts saw themselves as a necessity and lost sight of the importance of service.

If a commercial court does not effectively serve the business community, it can and will take its disputes elsewhere.

The final element, increasingly the most important, is connectivity. Businesses that are operating globally want the courts set up to protect them to act in the same way. An environment which businesses can trust, in which disputes are resolved fairly and swiftly, is worth little if decisions cannot be enforced.

For the DIFC Courts, much like the United Arab Emirates, good is not good enough. Our ambition is to be the world’s leading commercial court. Not in terms of size or the number of cases we handle but by leading in the areas that matter to court users: innovation, judges, service standards and connectivity.

It is a lofty ambition, but as Dubai has proved time and again over the decades, anything is possible.

Mark Beer is Chief Executive and Registrar at DIFC Courts. He is on the Board of Governors for Capital Club Dubai and also Chairman of the Club’s Events Committee.

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MEMBER'S view . Stefano Ferretti

“The Dubai Opera House looks to recast Dubai as the cultural hub of the Middle East.”

Dubai’s growth story – rhetoric or reality From Dubai Opera to Expo 2020, there is much happening in the UAE – but the buzz created around projects that do and sometimes don’t happen often leads to confusion over the true nature of the local economy – writes Stefano Ferretti When talking about projects in Dubai and the United Arab Emirates, one has to be very cautious on discussing proposed developments and those that are actually going to happen.

Besides the obvious reasons related to financial and economic sustainability, it is important to factor in the extreme vitality and strong diversification of the many investors and developers present in the country.

All tend to create a ‘buzz’ around any new idea. However, often there is very little – if any – dialogue around a project’s

feasibility to get off the ground. At the same time, we are living through a period where the gloomy outlook – from just about every credible source – tends to create pessimism.

It means nobody is quite sure where the rhetoric ends and the reality starts.

With that in mind, it is a good juncture to look at those ambitions that are already more than just a newspaper headline or a speech by a prominent public figure. Among those grand plans already in train are: Expo 2020, the Airport Expansion Project (Dubai Aviation Authority), Dubai Opera, Dubai Parks & Resorts, Dubai Metro expansion (RTA), Emirates Roads Master Plan (RTA), Etihad Railways and Dubai Water Canal.

Most of the above projects are creating new areas of development. For the Dubai Water Canal, it is important to mention Al Habtoor City and Dubai Creek Harbour; in addition to the smaller but significant projects going on along the whole Creek (from the Culture Village until Business Bay) as well as the canal itself – and on and around the coastline at its end.

Meanwhile, Expo 2020 and Dubai Parks & Resorts have increased the need for expanded road, metro and airport infrastructure – as have the many

residential and commercial developments.

For instance, Dubai South, the Town Square master plan located along the new metro expansion and the Etihad railway in the direction of the DWC airport.

The Walk, the City Walk, the Beach and the Jumeirah 1 beach projects have also rejuvenated existing areas of Dubai – while the Jumeirah Beach beautification has strongly contributed to improving the lifestyles of hundred of thousands of Dubai residents.

In addition, we can list the Mohammed bin Rashid City master plan, the various new residential developments between Al Khail Road and the Emirates Road along the Hessa Street and Umm Suqueim Road axis, the Blue Waters Island (with the Dubai Eye), the many four and five-star hotels under construction (the five new Address Hotels in the Downtown area, the seven Rove Hotels, the Oberoi/ Al Zorah resort development and the Bulgari Hotel – to name but a few) as well as Akoya City, the Heart of Europe development on The World, the Culture Village and of course the Dubai Opera House. The latter looks to recast Dubai as the cultural hub of the Middle East.

So numerous are the projects that have just been completed or are in the pipeline that it is impossible to mention them all in a brief article. In short, while the rhetoric is admittedly bold on Dubai’s continued growth and expansion the reality is actually not that far behind. Despite the bumbling global economy, the UAE is in relative good health. Long may it continue.

Stefano Ferretti is General Manager at Royal Blinds LLC and AJ Design, and a member of the Capital Club Events Committee

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MEMBER'S view . Joe Capaldi

‘Live for today’ but ‘save for tomorrow’ As life expectancy continues to increase, many people are enjoying the now without preparing for a longer retirement – writes Joe Capaldi

We are in the middle of an incredible ‘longevity revolution’. In fact, two-thirds of the people who have lived past 65 in the entire history of the world are alive today. On the first day of the 20th century, the average person could expect to live for about 47 years. On the last day of the 20th century, that figure rose to 76 years.

There was a greater life expectancy increase in the 20th century than in the previous 1,000 years. In the past most people didn’t age; most people didn’t grow old; they simply died. So in the 1850s, couples didn’t sit around and say: “Gee, honey, what would you like to do when we retire?”

In the 1880s, the Conservative Prussian statesman Otto Von Bismarck was asked to create Europe’s first pension plan.

He had to pick an age at which people could be thought of as too enfeebled, too run down, too ancient to continue working and, therefore, eligible for state support.

He picked 65. That year, the average life expectancy in Europe and the United States was only 45.

So 65 used to be old. It is not anymore.

Many of you reading this article today will live into your 90s. Some of you may even

reach a hundred. That is the good news.

The bad news is that most of you will outlive your money.

Sadly, too many people in this region are ‘living for today’. These people are fun, active and adventurous. However, they now find themselves financially strapped and are extremely anxious about not having saved enough money when they were younger. Most of the expats living here in Dubai today are going to end up like this. We need a financial wake-up call.

A number of years ago, I took a trip down the Colorado River in the Grand Canyon and while the ride was calm there were other slightly rougher parts of the journey. It occurred to me who the most important person on the raft was – the guide. Why? Because he knew what was up ahead.

So, everyone needs a guide to help them through this – a trusted financial adviser if you like. The only solution to ensure a long and happy retirement is wealth. In 20 years from now, we are going to have four times as many people over 70 than we have today.

A large proportion of them are going to have to cope with the consequences of old age from a health perspective. The cost of healthcare when an employer no longer covers the cost is an important factor to consider.

But where is the money going to come from to provide for all of this? The short answer is ‘savings’. We are all going to need much more money for a longer retirement.

But never fear. You do not have to have complex investment schemes. Simply save more than you are currently saving and you have already taken a step in the right direction. That is a good starting point; live in the moment but with one eye on the future.

Joe Capaldi is a Senior Managing Partner at Holborn Assets

53

SPONSORED ARTICLE

“HUNGARY HAS A SUPERB PROGRAM, WHICH KEEPS BECOMING MORE AND MORE COMPETITIVE. IN UNDER 30 DAYS, YOU CAN BECOME A PERMANENT RESIDENT IN EUROPE FOR AN INVESTMENT OF €300,000 IN BONDS.”

Your guide to becoming a global citizen Six months into his new role as Chief Executive Officer of Arton Capital, John Hanafin is the ‘new kid on the block’ questioning and challenging every status quo when it comes to residency and citizenship. ‘Why’?

Why would someone want a second residency or citizenship?

“Who wouldn’t want to have a second passport? A second residency or citizenship is one of the most important investments you can make in your lifetime. Many people assume this is related to taxes, but it’s not.

It’s about security, access to better education, higher quality healthcare, freedom of global mobility, and new opportunities.

Think of it as a window with a great view.”

Investing in a second residency and citizenship is the most important investment you can make?

“Yes. Similar to investing in the education of your children or in a good insurance policy for things out of your control, the benefits of a second residency or citizenship will be felt for generations to come.

“The return on investment is

incomparable to other asset classes. This changes the life of a family.”

Which countries offer such programmes and how many people apply for them annually?

“There are about 25 countries that now offer residency and/or citizenship by investment programmes. At Arton, we have a strict process of due diligence. So we carefully select the countries we work with. Our portfolio currently includes Antigua and Barbuda, Bulgaria, Canada, Cyprus, Dominica, Grenada, Hungary, Portugal, Saint Kitts and Nevis, Saint Lucia, the United Kingdom and the United States. Thousands of people apply every year and some programmes are constantly sold-out.”

What are the most popular, and why?

“Hungary has a superb programme, which

keeps becoming more and more competitive. In under 30 days, you can become a permanent resident in Europe for an investment of ¤300,000 in bonds. Not only do you keep the Hungarian permanent residency for life for you and your family, but you also get your investment back after five years. It is not surprising that they have the highest number of applicants in Europe.”

“In our experience, there has always been a perfect match for every client. To help them make the right choice, we have developed the Arton Index and an industry leading suite of tools available on our website (artoncapital.com/tools).”

What about the countries that will not permit “dual citizenship”?

“Where second citizenship is not allowed, European Union residency options such as Hungary, Portugal and Bulgaria as are the most attractive options.”

How powerful is your passport?

“I am Irish. The passport of Ireland has been ranked 5 th by the Passport Index.

The Passport Index is another of our innovations, which has become the world’s reference to explore, sort and rank the passports of the world. You should check it out at passportindex.org.”

For information on Arton’s bespoke services and for a private consultation on how to become a global citizen, you can contact John directly at jhanafin@artoncapital.com

54

Q&A . MARCO PIERRE WHITE

The world according to

Marco Pierre White During a candid question and answer session at the Capital Club in April as part of a promotional tour for his new book Essentially Marco, the Revolutionary Celebrity Chef – the youngest ever cook to win three Michelin stars – revealed some of the most colourful stories of his life and career

You famously grew up on a tough council estate in Leeds, in the United Kingdom. What was that like and how did you develop your interest in food during those formative years?

“It was by default that I got into the industry. All those years ago, I never wanted to be a chef. My father was a chef and my brothers started out as chefs but it wasn’t something that captured my imagination. To be quite honest, I wanted to be a gamekeeper because I loved the English countryside where I lived on the outskirts of Leeds. It was my playground for many years.

“In 1978, at the age of 16, my father sent me to Harrogate to knock on the doors of hotel kitchens in order to get a job. Getting a job in Harrogate catapulted me into that middle class world; it took me away from my humble beginnings on the council estate. At the age of 17, I then worked at the Box Tree in Ilkley, West Yorkshire. I realised then that restaurants had star ratings (the Box Tree had two Michelin stars) and that’s when my love of cooking first started. I loved that restaurant with all my heart, it was truly special.”

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Q&A . MARCO PIERRE WHITE

After that, you journeyed to London in the next chapter of the story – one that would eventually lead to you winning three Michelin stars. What was your plan when going to the capital?

“I wrote to Le Gavroche, the best restaurant in Britain, and they sent me back an application form in French. I messed it up so I threw it in the bin. So I got the train to London. By accident, I stumbled upon a very smart restaurant and the name above the door said ‘Le Gavroche’. I met the great Albert Roux.

“I told him my story about the messed up application form. He must have thought I was a complete lunatic. He said the best meal he had in Britain was at the Box Tree and on the strength of that he offered me a job. That’s how it all started, by pure chance. In January 1995, at the Hyde Park Hotel we won three Michelin stars and it’s been downhill ever since.”

White Slave. Is there much you can say about the project at this stage?

“I got a phone call about two years ago, I’d never thought about it before. I just thought wow. Then I flew to Hollywood and it didn’t seem real. In walks Ridley and we did the deal. Much later on in London at a dinner party I held, Ridley said to me ‘I want to introduce you to someone’. Then in comes the actor Michael Fassbender. We spent four hours together. I really liked him and I think he has it within him to do a kitchen part, as he can look quite psychotic. So Fassbender has the first option to play me.

“The scriptwriter is Nicholas Drake and I think the script is mostly complete by now. It will be rather weird if it ever happens. You start to think, do I really want to watch a movie about my life? Then I think to myself, well it’s a bit late now Marco as you’ve already taken the money.”

You famously handed back the three Michelin stars when at the peak of your powers. What was the catalyst for that decision?

“I’d realised my dream. I’d spent 21 years of my life trying to do so. And the truth is when you get there it’s really boring.

Winning three stars is the most exciting journey of any chef ’s life. Retaining them is boring but I did it for three years.

“I can see why lots of chefs drift away from the kitchen, but I came from that old world of gastronomy where a chef ’s place was behind the stove. I worked every single service, doing six days and 85 to 100 hours per week, and I got to the stage in 1999 where I wasn’t really enjoying it anymore.

“I decided that maybe I should take my apron off and bow out. I didn’t want to live a lie and pretend I was cooking when I wasn’t, bringing into question my integrity and everything I had ever worked for.

I was being judged by people who had less knowledge than myself so what’s it worth?

The truth is, it’s worth zero. Knowing that the people who gave me my stars did not have the knowledge I had gave me the confidence to give them back, and that’s the end of the story really.”

You are a regular feature on Masterchef Australia. How do you feel about the show?

“Masterchef is without question the greatest television food show on earth. It is the Top Gear of food. It is very professional and goes to 187 countries globally. It inspires people to enter the industry. And it inspires mothers and fathers to go and buy produce, and cook food, for their families. Those are the positives. The negative is that shows like this are manufactured reality. We all know that, but you have to look at the bigger picture.”

Looking ahead, we have the prospect of a Marco biopic on the horizon with the legendary film director Ridley Scott having bought the rights to your autobiography

Where do you see food going in the future?

“I don’t know really. I know where my food is going and that’s simply beautiful produce made very simply, made affordable. Simplicity is the key because the more you do to food the more you take away from it. That’s the biggest failing, people have a tendency to overwork food.”

Your mother inspired you; can you tell us more about that relationship?

“My mother, who was Italian, was my driving force. She died when I was six.

What that tragedy did for me, as a man, was it made me so massively insecure that it drove me to fuel my dreams. What’s important in life is overcoming your insecurities. I dreamt of winning three Michelin stars and I realised it. If you have a dream in life then I believe you have a responsibility to make that dream come true.

“That’s why I could walk away from my dream. I had achieved everything I’d set out to. I never wanted to be famous, I never wanted to be wealthy and I was never materialistic. I just wanted to realise my dream. I was ambitious only by default. The thing that fuelled me was achieving security, not to be in magazines or on TV. Being brutally honest, I hate doing TV. I dislike it immensely, but another part of me feels that I have a duty and responsibility to inspire young people – to share my knowledge.”

Essentially Marco is published by Motivate and is available at all good retail outlets and booksarabia.com

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THE GALLERY . EVENTS

Be my Valentine

Many club members and guests enjoyed a spectacular Valentine’s Day feast accompanied by the smooth sounds of the popular jazz band the Tarek Yamani Trio on February 14. “Specially created for Valentine’s Day, the four-course menu was devised to reflect the romantic mood and ambience of the evening with carefully selected beverages matched to complement each course,” said Head Chef Marco Inglese.

Dr Norman Ricklefs and Therese Tayah

Matthew Ficco and Sandra Ficco

Riz Khan and Trudy Funke

Mr and Mrs Treays

Ramy Samir Fares and Nadeen Fares

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THE GALLERY . EVENTS

Moving between politics, economics and history Francis Matthew and Professor Abdulkhaleq discussed policy in the United Arab Emirates before a fascinated Capital Club audience Gulf News Editor-At-Large Francis Matthew and Chairman of the Arab Council for the Social Sciences Professor Abdulkhaleq Abdulla

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THE GALLERY . EVENTS

Iain Stewart-Linnhe with Yaroslav Trofimov

Iran

Regulatory Expert Iain Stewart-Linnhe presented club members with a thought-provoking talk on geo-financial risks and opportunities in the Iranian market. Iran's nuclear deal post Implementation Day “does not mean trade sanctions are over� but Iranian market potential remains considerable, he said.

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THE GALLERY . EVENTS

(left to right) David Macdam, Chief Executive Officer (MECSC-ICSC); Jaafar Altaie, Managing Director (Manaarco); Dr Mohamed Lahouel, Chief Economist (DED); Dr Tommy Weir, Author and Founder (Emerging Leadership Centre)

The 2016 economic outlook

The timely event, led by experts in their respective fields, highlighted areas for optimism and areas of concern

Coffee, croissants and cutting edge robotics Professor Giorgio Metta shared fascinating findings on the benefits of robots during a business breakfast talk

His Excellency Liborio Stellino (Italian ambassador) and Professor Giorgio Metta

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FOOD AND BEVERAGE

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FOOD AND BEVERAGE

A little slice of Italy comes to Dubai Members and guests can now enjoy a truly authentic Italian fine-dining experience right here in the United Arab Emirates

I

t is not often you get the chance to dine like a Hollywood A-lister with dishes from the same culinary team who create the masterpiece foodie delights that are the mainstay of Oscar parties. However, this experience is now available at the Capital Club in Dubai with the arrival of a new all-Italian food and beverage team kicking up a storm for members.

Headed up by Executive Chef Simone Serafini – who has worked alongside industry greats including the original Antonio Carluccio at Neal Street – the

truly authentic team also includes Head Chef Marco Inglese, General Manager of F&B Luca Attanasio, Deputy General Manager of F&B Giovanni Galluccio and Bar Manager Pasquale Lione.

All have worked in top London establishments and worked together before.

More importantly, all have trained in rustic Italian food since a very young age. Even the sommelier and waiting staff are also Italian. A real slice of Italy has arrived in Dubai.

Attanasio and Inglese shared time in the Stratta kitchen with Attanasio

introducing Inglese to Serafini around that time. It was those trusted relationships that ultimately brought Serafini, with his passion to elevate the Capital Club menu, to Dubai.

Now settled, the team plans to recreate the successes they enjoyed individually in London. “The standards set by West London’s hotels and restaurants are absolutely top class and so demanding. We are, therefore, committed to raising the standard here to a superlative level and offering a guest experience that members will thoroughly appreciate,” says Attanasio.

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FOOD AND BEVERAGE

Going forward, the team intends to usher in a new era based around fresh organic produce. Serafini says he intends to create a “truly world-class dining experience – for 21st century tastes”.

The desire to “enhance excellence to exceptional” is Attanasio’s driving force.

He aims to achieve that goal by sourcing fresh local ingredients and adapting menus to suite the palettes of those living here in the emirate.

Capital Club Dubai’s General Manager, Christian Horvath, says of the team: “They have worked together at some of the most highly-rated and demanding hotels, restaurants, private clubs and bars world-

“WE ARE COMMITTED TO RAISING THE STANDARD HERE TO A SUPERLATIVE LEVEL AND OFFERING A GUEST EXPERIENCE THAT MEMBERS WILL THOROUGHLY APPRECIATE.”

wide – including Cecconi’s, Soho House and 5 Hertford Street. I am confident that few clubs and hotels anywhere in the world can challenge the know-how and passion of the team here.

“I am glad to hear that feedback for our new menu (which changes weekly) has been fantastic. Many members have already commented that it is the best Italian restaurant in Dubai. Going even further, Stefano Ferretti, who is a member of the club as well as of the prestigious ‘Accademia Italiana della Cucina’ society, told me and I quote ‘it is the best Italian food I’ve eaten outside of my home country’. If you haven’t tried the Capital Club food recently, make sure you do. I guarantee that you will not be disappointed at the selection, quality and value for money.”

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FOOD AND BEVERAGE

Looking forward, Serafini believes a stringent testing process and a highly trained team, which understands his philosophy – yet offer their own unique talents and ingenuity – will ensure only top-grade fare is offered.

“I believe that with the team we have in place, we have only great things

to offer, while also learning more about the city itself,” he says.

“For me, food needs to be delicious and nutritious. And the fantastic thing about dishes made from quality ingredients is that they can taste great and still be 100 per cent wholesome.” It is no wonder then that the team has been on Oscar duty in the past. Now expect the stardust to be sprinkled across the Capital Club.

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FOOD AND BEVERAGE

Culinary team: Q&A

From left to right: Head Chef Marco Inglese, Executive Chef Simone Serafini and F&B General Manager Luca Attanasio What are you expecting from your experience at the Capital Club?

Serafini: “In my short time here in Dubai, I have found that some of the food concepts are a little dated. This will be one of the first points we will address.”

to the customer at the highest quality. Fortunately I have a kitchen of highly trained chefs who understand my philosophy yet offer their own unique talents and ingenuity. I believe this will all come together to complement an exclusive offering.”

Attanasio: “Working in London is extremely demanding and taught me a lot about continually looking to raise your own level and to demand of yourself the very best in all aspects that contribute to the hospitality experience. In my mind, excellence does not stand still and can always be improved upon; this will be a key focus for us.”

Attanasio: “Having worked in many different countries across the world, I think it is always important to have the flavour of the city you are in reflected in your hospitality offering. It is crucial to look at sourcing fresh local produce and adapting menus.”

Inglese: “I wasn’t quite sure what I would see when first coming to Dubai. I was not expecting it to be as cosmopolitan as it clearly is, so I was a little surprised at the level of sophistication in the F&B industry here. I always enjoy a new challenge and an opportunity to create something new. This will serve as an inspiration for all we do.”

How are you planning to ensure your high standards are met?

Inglese: “We will test everything to ensure that the produce and end product is served

Serafini: “As Marco has said, there are no short cuts. You have to be on top of your game every second you are in the kitchen and even in the periods of preparation.

There is no substitute for being hands-on all the time; tasting and checking to ensure we deliver the very best we possibly can.”

Who would you say is your own personal inspiration?

Attanasio: “If you refer to the so-called celebrity or television chefs, then I am a fan of Gordon Ramsey and Jamie Oliver – both of whom I have worked with in Los Angeles. Both are exceptional chefs

with their own style, although Gordon is definitely more of an actor and very comfortable, front of house or entertaining celebrities at fancy parties.”

Inglese: “For me, I would have to say Michelin-starred chef Gualtiero Marchesi who I got to know at Al Cambio Restaurant. Working with him introduced me to a wealth of experience that I am eternally grateful for and through this association I gained further introduction to the other great personalities in our industry. Not all of them are on TV, of course.”

Serafini: “I am a great admirer of two–star Michelin chef Antonio Cannavacciuolo. A fellow Italian, Antonio has worked in the kitchens of the great French restaurants such as the Auberge de L’lll in Illhaeusern, France, as well as in the restaurant of the Grand Hotel Quisisana in Capri, when Gualtiero Marchesi ran the kitchen.”

What is your favourite food?

Attanasio: “This is a difficult question as I have travelled a lot and experienced so many diverse cuisines. But I suppose I do love Thai food because it’s very fresh and I like the way it is cooked.”

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ANOTHER CULINARY HIT FROM THE CAPITAL CLUB – BASED ON LEVEL 3 OF THE CLUB Founded by globally-acclaimed Peruvian Chef Jaime Pesaque, Mayta embodies the essence of Peru. Pesaque has become an ambassador for Peruvian food around the globe and is renowned for creating visually stunning dishes with the freshest seasonal ingredients, evidenced by the seasonal menu on offer.

Growing up in Peru, every aspect of Pesaque’s life revolved around food and his interest quickly turned into a passion as he grew up. By the time he was in high school, he was taking weekly cooking classes with a French chef at a local culinary school.

Inglese: “I love preparing meat and all that grills. I am also a huge fan of sushi. I find it elegant in its preparation and presentation – a key element reflected in Japanese culture. When you are in the kitchen all day preparing fine dining dishes, you get home and do tend to go looking for light, basic food though.”

Serafini: “I also like Japanese food as well as Thai, Malaysian and Chinese cuisine. It may even surprise some to hear that I have a great fondness for British food, as it has progressed over the last 20 years into some really interesting dishes. It’s not just about fish and chips anymore. In all honesty, I find that you can draw inspiration from many styles of cuisine and creating something new and delicious is a challenge I embrace daily.”

“WHILE THE CAPITAL CLUB IS NOT A NEW OPENING, WITH A NEW SENIOR KITCHEN AND FRONT OF HOUSE TEAM NOW ON BOARD, IT WILL CERTAINLY REFLECT THE BEST ELEMENTS OF THAT.” He landed his first kitchen job at 17, getting his first introduction to Peruvian ceviches and tiraditos at a Lima seafood restaurant, Alfresco. After a summer at the restaurant, Pesaque attended Le Cordon Bleu in Paris before venturing to Italy to further his education at the Italian Culinary Institute for Foreigners.

Upon graduation, Pesaque returned home to Peru to assume the executive chef position at Al Grano, where he worked for two years. When the opportunity to work at El Celler de Can Roca presented itself, Pesaque jumped at the chance and headed back to Europe.

The chef’s plan, however, was never to stay far from home.

With Michelin-star experience in tow, he went back to Peru to begin what would become a restaurant empire, opening Mayta in Lima in late 2008. Since its establishment Mayta has garnered international acclaim and is famed for its exquisite food, intuitive service and its unique artisanal Pisco infusions.

Mayta is a truly authentic Peruvian restaurant set to delight our guests by bringing the heart of Peru to the Middle East. It offers our guests a unique setting to experience true Peruvian hospitality and all of its rich flavours.

Members of Capital Club Dubai are entitled to a 20% discount at Mayta – just present your membership card at the door.

What will be the message you convey to your new team at the club?

Inglese: “I think there will be a seamless transition because Luca and I have worked together before, at Stratta, where he introduced me to Simone. In order to deliver the best possible experience for people, you need experience on board and it was Simone and Luca who actually involved me in the move to Dubai. I am, therefore, pleased to be getting started on this new adventure – safe in the knowledge that we have a world-class team in place.”

Attanasio: “I am hoping to take a similar direction and try to recreate the success I achieved in London. The standards set by West London’s hotels and restaurants is absolutely top class and so demanding. I am, therefore, committed to raising the standard here to a truly world-class level and offering a guest experience that people will thoroughly appreciate.”

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NEW TO CAPITAL CLUB DUBAI A big welcome to the following new club members

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Ahmad Anani, Partner, Pillsbury Winthrop Shaw Pittman LLP

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Thomas Kristensen, Vice President - Investment Banking, Barclays

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Rania Abi Raad, Executive Director, Takeda Pharmaceuticals FZCO

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Muhammad Khalid, Executive Director - Strategy, ASAS Capital

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Naveed Ahmed, Area Leader - Sales & Mktg, 3M Gulf Ltd.

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Georgia Kartsanis, Founder & CEO, SARGIA Partners

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Sami Al-Louzi, Attorney (Partner), Latham & Watkins

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Prayag Kakkar, Head of Investment, Century Financial Broker

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Muhannad Alnajjab, Attorney, Latham & Watkins

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Jules Kappeler, CEO, Euler Hermes GCC

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Christian Adams, Attorney, Latham & Watkins

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Aiaz Laldjee, Investor, Red Stone Management

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Ahmad Al Falasi, Deputy Manager, Dubai Government

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Christopher Lester, Partner, Latham & Watkins

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H.E. Bahige Annan, Consul General, Sierra Leone Embassy to UAE

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Mark Leale, Business Development Manager, Quilter Cheviot Limited

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Mohammad Al Hashmi, Lawyer, MH Advocates

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Cyril Lincoln, Head - Real Estate, Abu Dhabi Commercial Bank

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Ahmed Al Qassim, CEO, Emirates NBD

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H.E. Klaudia Lach, First Counsellor, Embassy of the Republic of Poland

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Samir Assaad, Managing Partner, Qatar First Bank

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Soufyane Miloudi, CEO & Owner, AUBRILAM

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Ihab Asali, CEO Alternative Investment, Qatar First Bank

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Paul Musson, Head of Leasing Division, Engel & Volkers

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Jad Ariss, CEO - MEA, AXA Insurance (Gulf) B.S.C.

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Abeer Alyaseen, SBF Holding

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Salman Arfeen, Owner & Founder, The Agency / Salspad

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Gokul Mani, Founder, Deep Blue Capital Management

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Sheikh Fahim Al Qasimi, Executive Chairman, Government of Sharjah

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Ali Megerisi, Owner, The Agency / Uber Technologies

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Lewis Allsopp, Chief Executive Officer, Allsopp & Allsopp

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Michael Murphy, Partner, Consilium

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Giulio Azzaretto, Lawyer, LCA Law Firm in Alliance with IAAME

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Amaresh Mattoo, Managing Director, Matuco Trading DMCC

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Fady Berdkan, Managing Director, BMG Metal False Ceilings Manufact

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Rohit Malhotra, CFO, Network International

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H.E. Unnop Buranasate, Consul General , Thai Consulate

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Vencislav Cholakov, Director, TGI Middle East FZE

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Cedric Charpentier, CEO - AXA Gulf, AXA Insurance (Gulf) B.S.C.

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Tyler Cicirello, Co-Founder, Frontera Pte. Ltd.

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Ann Duffy, Managing Director – MEA, CIS, The East India Company

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James Dey, CEO, Mobile Land Systems

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Vijay Narasipuram, Director, Columbia Threadneedle Investments

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Ahlam Douhri, Business Development Manager, Savory & Partners

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Hiroshi Nishio, Executive Officer, Orix Corporation

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Dr. Walaa Elassuity, Chairman, Exeter Bone & Joint Center

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Christian Okouna, Chairman, Holle Potash Corp

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Deniz Erkus, Managing Director, SiDeMi Business Consultancy

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Peter Englund, CEO - Global Corporate, Zurich Insurance Company

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H.E. Paul Fox, HM Consul General, British Embassy Dubai

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Chidi Okpala

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Hamza Farooqui, Group CEO, Cii Holdings (Pty) Ltd

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Delyan Peevski, Managing Partner, NSN Capital Limited

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Omar Fayed, Director, Qatar First Bank

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Simon Fordham OBE, Partner, Consilium Aldo Garbagnati, Managing Partner, EMI Capital Advisory LLP

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Thomas Paoletti, Owner, Paoletti Legal Consultant

Kevin Griffiths, Sr. Vice President - Bus. Tech. Sol, Emirates Group

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Nomaan Raja, Partner, Latham & Watkins

Souren Gharnagharian, Owner, MAG Container Lines LLC

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Dr. Michael Riel, CEO, AGEPHA Pharmaceuticals

Rehan Hassan, CEO & President, Towershare Management Limited

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Patrick Satamian, Chief Executive Officer, Catalyst Concepts

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Kamal Hassan, CEO & Founder, Innovation 360

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Michael Heywood, Strategic Director, WS Atkins

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J ames Andrew McCarthy, Managing Director, Shirlaws Management Services, LLC

Pankaj Narain, CEO, Hinduja Bank (Middle East) Ltd Tarik Nassar, Managing Partner, Amal Advocates & Legal Consultants atsuya Nakanishi, Sr. VP & Regional CEO for ME, Mitsubishi K Corporation

eith Owen, Business Development Director, Quilter Cheviot K Limited

yla Phillips, Chartered Financial Planner, Guardian Wealth T Management

aveed Siddiqui, Chief Executive Officer, Capitas Holding N International

ranck Heimburger, Chief Sales & Distribution Officer, AXA F Insurance (Gulf) B.S.C.

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Danilo Salsi, CEO, Idea Consulting DWC LLC

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James Sexton, President, The Esquire Group

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Edmund Holland, Partner, Consilium

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Abraham Sutherland, Director, Saker Group

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Felice Hurst, Managing Director MENA, Hanson Search Ltd.

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Nida Sumar, Founder, Keza Industries FZ LLC

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Nasir Ilyas, CEO, Lincoln Legal Consultant

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Sanjay Shah, Consilium

alter Jopp, Chief Executive Officer, Zurich Financial Services W Insurance

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Iqbal Usman, Group Executive Director, IFFCO Group

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John Varghese, Managing Partner, HLB Hamt

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Sanath Kumar, General Manager, Capita (Dubai FZ) Limited

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Juvy Valdez, Office Manager, Greenwich Investment LLC

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Ioannis Koskinas, CEO, Hoplite Group LLC

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Elsa Wilkin-Armbrister, Acting Consul General, St. Kitts & Nevis

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nders Kristensson, Producers Representative, The Kennedy A Marshall Company

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hristian Watts, Consul General, Consulate General of C Switzerland

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Amit Kumar, Director, Julius Baer (Middle East) Ltd

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Marco Zucco, Director, SDAC Consulting

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Sam Kennedy, Executive Director, Jet Solution Aviation Group

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Kypros Zoumidou, Senior Executive Officer, IG Services Limited

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