HSBC Asset Management appointed two executives to its newly created climate technology investment team, created in efforts to boost its venture capital business, a spokesman confirmed.
Christophe Defert, who is based in London, was named head of climate technology venture investments. The role is new.
Michael D'Aurizio, based in New York, was named investment director, climate technology. The role is also new.
Messrs. Defert and D'Aurizio report to Remi Bourrette, head of venture and growth investments, who leads the team.
The team will launch its first fund before the end of the year, focusing on energy, transportation, insurance and agriculture.
"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 of HSBC Asset Management, said in a news release Monday.
HSBC Asset Management managed $45 billion in alternatives strategies as of March 31.
Mr. Defert was vice president for ventures and Mr. D'Aurizio was investment director for ventures at Centrica Innovations, a subsidiary of energy and services company Centrica PLC. A spokesman could not be reached to provide replacement details.