Christophe Defert has become head of climate technology investments at UK-listed bank HSBC’s asset management division.
Defert, a GCV Rising Stars 2020 award winner, had previously been a vice-president of Centrica Innovations, a corporate venture capital (CVC) arm of UK-based energy utility Centrica, leading its £100m ($128.8m) fund’s venturing efforts.
He said: “I am thrilled to be joining HSBC Asset Management at a time when asset managers increasingly play a pivotal role in tackling our climate challenge.
“I am fortunate to continue working with Michael D’Aurizio, [former investment director of ventures at Centrica,] in supporting entrepreneurs who are dedicating themselves to solving one of the biggest issues of our generation.”
Defert and D’Aurizio will provide the bank’s clients with opportunities to invest globally in technology startups that are addressing the challenges of climate change. The bank said the strategy would 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 to Remi Bourrette, head of venture and growth investments, who joined the asset manager last year from HSBC’s global banking and markets division.
Bourrette is also understood to be starting a financial technology fund to sell to clients as well as runs the bank’s strategic investments.
Separately, Ore Adeyemi and his group at HSBC make strategic investments for all parts of HSBC outside of the bank, for example in insurance.
Defert started his career as an investment banker at Merrill Lynch in London before joining private equity firm TowerBrook Capital Partners where he focused on growth equity investments and leveraged buyouts in a variety of industries.
Defert joined Centrica’s M&A team in 2010, and two years later, he went on to lead the European gas origination team as part of Centrica marketing and trading group.
He moved to the US in 2014 where he was appointed director of M&A and corporate development North America for Direct Energy, an energy retailer subsidiary of Centrica, where he led the acquisition of energy management and intelligence company Panoramic Power. Most recently, he was chief of staff to the Direct Energy chief executive.
