HSBC Asset Management hires Climatech team
The team will develop a venture capital investment strategy providing clients with opportunities to invest globally in technology startups who 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 fund is planned to be launched before the end of the year with an intended cornerstone investment from HSBC.
The team will report into Remi Bourrette, Head of Venture and Growth Investments, who joined the firm last year from HSBC Global Banking and Markets.
Christophe Defert joins as Head of Climate Technology Venture Investments. He has over 16 years’ experience in investment banking, private equity, corporate M&A, energy contracts and venture capital. Before joining HSBC Asset Management, Christophe spent 10 years at Centrica where he most recently built and led Centrica Innovations’ Venture effort globally.
Michael D’Aurizio joins as Investment Director, Climate Technology. He has over 10 years’ experience in power, utilities, and clean energy including business strategy and venture capital, and previously led Centrica Innovations’ US activities.
Joanna Munro, Global CIO, HSBC Asset Management, commented: “Technology will play a major role in enabling the energy transition, funded by public money, private capital and philanthropic commitments like HSBC’s Climate Solutions Partnership with the World Resources Institute and WWF. 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.”
In 2020, HSBC Asset Management set out its strategy to re-position the business as a core solutions and specialist emerging markets, Asia and alternatives focused asset manager, with client centricity, investment excellence and sustainable investing as key enablers. HSBC Asset Management currently manages USD45 billion1 in alternatives strategies.
Notes to Editors
[1] – As at 31 March 2021
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Website: https://www.assetmanagement.hsbc.com/sg
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HSBC Asset Management
HSBC Asset Management, the investment management business of the HSBC Group, invests on behalf of HSBC’s worldwide customer base of retail and private clients, intermediaries, corporates and institutions through both segregated accounts and pooled funds. HSBC Asset Management connects HSBC’s clients with investment opportunities around the world through an international network of offices in 25 countries and territories, delivering global capabilities with local market insight. As at 31 March 2021, HSBC Asset Management managed assets totalling US$621bn on behalf of its clients. For more information, see https://www.assetmanagement.hsbc.com/uk
The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,984bn at 31 December 2020, HSBC is one of the world’s largest banking and financial services organisations.