Sustainability-focused investment manager Mirova announced the appointment of Stéphane Detobel and Francis Verpoucke, each as Executive VP Institutional Business North America at Mirova US, with responsibility for promoting the firm’s sustainable strategies to institutional investors in North America.
Mirova founded Mirova US in 2017, and the unit currently employs 26 people, and manages $9.4 billion, most notably through the development of its global sustainable equity strategy. In a statement announcing the new appointments, Mirova said that it is looking to build on its base in North America with offerings of diversified investment solutions to US and Canadian institutional investors.
The move is the latest senior North America-focused hire for the firm, following the appointment earlier this year of Zineb Bennani as CEO of Mirova US and Global Head of Business Development.
“As we expand, the North American market has become extremely important for Mirova. We believe that institutional investors in the region are increasingly searching for innovative, diversified investment solutions designed to accelerate the transformation of the economy towards a more sustainable model.”
According to Mirova, the appointments come amid strong growth expectations for North America, which the firm said is expected to account for up to 70% of global assets under management over the next five years, up from 60% in 2022.
Mirova CEO Philippe Zaouati said:
“Since its creation ten years ago, Mirova has managed to build a solid reputation as a global player in sustainable investing. We are now accelerating our development across the Atlantic, where our ambition is to double the weight of our activity by 2030, as North American investors show a strong appetite for the energy transition and an interest in diversification towards European assets.”
Detobel and Verpoucke join Mirova after both serving as Managing Directors North America at Paris-based asset manager TOBAM, responsible for leading and developing the firm’s business in North America, and after working together at Amundi in the U.S. business as well.
“We are thrilled to join Mirova US’ teams to promote their wide range of investment solutions. As the beating heart of global finance, North America is a key market to spread a more responsible form of finance in both private and public assets.”
“We believe that US and Canadian institutional investors are looking for innovative sustainable investment solutions which identify opportunities, anticipate risks and meet their expectations in terms of performance, both on listed and private assets.”