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, primarily through the development of its global sustainable equity strategy. In a statement announcing the new appointments, Mirova said it aims to build on its base in North America by offering diversified investment solutions to US and Canadian institutional investors.
The move marks the latest senior North America-focused appointment for the company, 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 to Mirova. We believe that institutional investors in the region are increasingly seeking 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 is expected to represent up to 70% of global assets under management over the next five years, up from 60% in 2022, according to the company.
Mirova CEO Philippe Zaouati said:
“Since its founding ten years ago, Mirova has built a solid reputation as a global player in the field of sustainable investing. We are now accelerating our development across the Atlantic, where our ambition is to double the weight of our activities by 2030, as North American investors show a strong interest in the energy transition and interest in diversifying into 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 company’s operations in North America, and having also worked at Amundi in the US has cooperated.
“We are excited to join the Mirova US teams to promote their wide range of investment solutions. As the beating heart of the global financial world, North America is an important market for spreading a more responsible form of financing in both private and public assets.”
“We believe that U.S. and Canadian institutional investors are looking for innovative sustainable investment solutions that identify opportunities, anticipate risks and meet their performance expectations across both listed and private assets.”