HSBC Asset Management appoints two team members to its Climate Venture Investments unit

05/30/2021

The move is part of HSBC Asset Management's strategy to expand direct investment capabilities in alternatives

LONDON, England - May 25, 2021 (FI NEWS) -- Christophe Defert joins HSBC Asset Management as head of climate technology venture investments, and Michael D'Aurizio (left)  joins as investment director, climate technology, the bank said in a statement on Tuesday. The pair report to Remi Bourrette, head of venture and growth investments, who joined the firm last year from HSBC Global Banking and Markets.

Venture Specialists

Defert, who brings over 16 years' experience in investment banking, private equity, corporate M&A, energy contracts and venture capital, joins from British multinational energy and services company Centrica, where he built and led its venture effort globally. 

D'Aurizio (pictured above) also joins from Centrica, where he led the firm's U.S. venture activities. He has over 10 years' experience in power, utilities, and clean energy including business strategy and venture capital.

Climate Investment

"The appointment of this team will allow us to provide clients with early exposure to sectors which are just emerging as such, but will become major sources of financial and environmental value over the decade," Joanna Munro, global CIO, HSBC Asset Management, said.

The team will develop a venture capital investment strategy providing clients with opportunities to invest globally in technology startups that are addressing the challenges of climate change.

The strategy will focus on companies across the energy, transportation, insurance, agriculture and supply chain sectors. The first strategy is planned to be launched before the end of the year with an intended cornerstone investment from HSBC, the statement said.

New Strategy

Last year, the firm set out its strategy to re-position the business as a core solutions and specialist emerging markets, Asia and alternatives focused asset manager.

HSBC AM's assets under management grew 10 percent year-on-year to reach $184 billion in 2020, driven by strong net new money in Asia and strong fund performance.

The firm currently has some $45 billion in alternative strategies.