Natixis Asset Management announces the creation of Mirova, a management company
In order to accelerate the development of its responsible investment activities, Natixis Asset Management announces the creation of the management company Mirova1. It is Mirova’s ambition to become an international leader in Responsible Investment within the next five years.
A new approach to responsible investment
Mirova's philosophy is based on the conviction that understanding major demographic, economic, societal trends and taking into account environmental and social impacts not only offers a better appreciation of risks, but also makes it possible to identify investment opportunities in a changing world. By bringing together experts committed to responsible investment who benefit from more than 25 years of expertise, Mirova develops a global approach that spans all asset classes – listed equities, bonds, investments in infrastructure, impact investing – and relies on its powerful research capacity and engagement with companies. Mirova's approach meets the expectations of institutional investors looking for solutions that create value over the long term while integrating sustainable development issues. It also responds to the desire for meaning, proximity and simplicity expressed by savers, whether they invest via banking networks or within the scope of their employee savings plans.
A year crowned with success
Launched just over one year ago, the Mirova investment division focuses constantly on innovation:
• Creation of “Impact ES”: the first employee savings SICAV dedicated to SRI2 and certified by CIES3, in partnership with Natixis Interépargne4
• Launch of “Mirova Funds”5: one of the only SICAVs with sub-funds in Europe dedicated exclusively to responsible investment6
• Publication of the first in-depth analytical study resulting from Mirova’s research partnership with Cambridge University
• Development of an innovative methodology for analysing the environmental and social impact of infrastructure projects, in partnership with BeCitizen7
A conviction-driven investment approach for international development
Effective 1 January 2014, the Mirova investment division is a wholly owned subsidiary of Natixis Asset Management. Philippe Zaouati is the Chief Executive Officer of Mirova. Pascal Voisin, Chief Executive Officer of Natixis Asset Management, is the Chairman of Mirova's Board of Directors. The creation of this subsidiary aims to strengthen the independence of Mirova's management team and to accelerate its international development as part of Natixis Global Asset Management's multi-affiliates model.
“Mirova has great ambitions. We want to strengthen our position as a committed and innovative player in the vanguard of responsible investment, theme-driven investment management and infrastructure projects on an international scale.” explains Philippe Zaouati, Chief Executive Officer of Mirova.
(1) Consolidation of the activities of Natixis Asset Management’s investment division, Mirova, into the subsidiary Mirova Environment and Infrastructure (2) Socially Responsible Investment (3) Inter-trade union committee for employee savings (4) Natixis Interépargne - French Société anonyme with a share capital of €8,890,784, registered with the Paris Trade and Companies Register (RCS) under no. B 692 012 669. (5) Mirova Funds is a Luxembourg SICAV registered on the CSSF since 15 September 2009 (6) Lipper Feri FMI – FundFiles – Universe of funds marketed in 31 European countries – figures as at 31 August 2013. (7) BeCitizen is a strategic consultancy firm leader in the creation of products, business models and profitable financial vehicles that contribute positively to society and the environment.
Mirova, the Responsible Investment subsidiary of Natixis Asset Management, develops an engaged approach aiming to combine value creation and sustainable development. Mirova’s philosophy is based on the conviction that integrating sustainable development themes can generate solutions that create value for investors over the long term, not only thanks to a better appreciation of risks, but also by identifying favourable investment opportunities in a changing world. Mirova offers a global responsible investing approach: equities, bonds, infrastructure, Impact investing,(1) voting and engagement. The second-largest European manager of open-ended SRI funds(2) and N°1 in Impact investing in France(3) and in Europe(2), Mirova has €3.4bn in AuM and €23.6bn in voting and engagement. Mirova brings together 43 multi-disciplinary experts, specialists in thematic investment management, engineers, financial and ESG(4) analysts, specialists and experts in socially conscious finance and project financing. Mirova’s fund range is distributed by Natixis Global Asset Management’s global distribution platform and is designed for all types of investors, both professional and non-professional.
Source: Natixis Asset Management as at 30/09/2013. (1) Impact investing: investments with a strong social and environmental impact. (2) Source: Feri Lipper - 04/2013. (3) Baromètre Finansol 2012. Impact Investing: of which €55 million invested directly in solidarity organisations. (4) ESG: Environmental, Social/Societal and Governance. References to classifications, awards and/or ratings are not an indicator of future performances by the funds/UCITS and/or fund manager.
About Natixis Asset Management
With assets under management of €292.5 billion and 682 employees, Natixis Asset Management ranks among the leading European asset managers. Natixis Asset Management offers its clients (institutional investors, companies, private banks, retail banks and other distribution networks) tailored, innovative and efficient solutions organised into 6 investment divisions: Fixed income, European equities, Investment and client solutions, Structured and volatility developed by Seeyond,1 Global emerging, and Responsible investing developed by Mirova2
Source: Natixis Asset Management – September 30, 2013. (1) Seeyond is a brand of Natixis Asset Management. (2) Mirova is a wholly-owned subsidiary of Natixis Asset Management.
About Natixis Global Asset Management
Natixis Global Asset Management, a wholly-owned subsidiary of Natixis, comprises management and distribution firms based in Europe, the United States and Asia. Assets under management totaled more than €619.3 billion worldwide. It employed more than 3,200 staff.
Source : Natixis Global Asset Management - September 30, 2013
Natixis is the corporate, investment and financial services arm of Groupe BPCE, the 2nd-largest banking group in France with 21% of total bank deposits and 36 million clients spread over two networks, Banque Populaire and Caisse d’Epargne. With around 22,000 employees, Natixis has a number of areas of expertise which are organized in three main business lines: Wholesale Banking, Investment Solutions and Specialized Financial Services. A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of Groupe BPCE’s two retail banking networks. Listed on the Paris stock exchange, it has a solid financial base with a CET1 capital under Basel 3 (1) of 11.9 billion, a Basel 3 CET1 Ratio(1) of 9.9% and quality long-term ratings (Standard & Poor’s: A / Moody’s: A2 / Fitch Ratings: A).
(1) Pro forma of the sale of CCIs - Basel 3 impact will depend on final rules – Fully-loaded except on DTAs
Figures as of September 30, 2013
+ 33 (0)1 58 19 47 41
Natixis Asset Management
+33 (0)1 78 40 81 85
Composition of Mirova's Management Committee
- Philippe Zaouati, Chief Executive Officer, Mirova
Philippe Zaouati began his career in 1990 as a quantitative manager with the Banque Internationale de Placement. From 1993 to 1996, he worked as a financial engineer for CDC Gestion before joining Sogéposte as head of the product supply team. In 1999, he joined Crédit Agricole Asset Management (CAAM) where he held a variety of successively more demanding positions: initially head of product marketing he became general director of CA Funds Investment Services in Luxembourg (today CAAM Luxembourg) then, from 2002 occupied a position as head of client services before being promoted to Global Marketing Director of the CAAM Group. As Executive director of CA Funds (Luxembourg Sicav of CAAM group), Philippe Zaouati was also the Chairman of Fund Channel. In 2007, he moved to Natixis Asset Management as head of development and one of the members of the executive committee. There, he was appointed Deputy CEO in 2010. In 2012, he became the head of Mirova, Natixis Asset Management's responsible investment division.
Philippe Zaouati is currently the Chief Executive Officer of Mirova.
He is also:
- A member of the board of the International Corporate Governance Network (ICGN) since 2012
- Chairman of the SRI Commission of the French Asset Management Association (AFG) since 2012
- The head of the European Fund and Asset Management Association's working group on responsible investment since 2011
- The author of Investir responsable - En quête de nouvelles valeurs pour la finance (Responsible investing - The quest for new values for finance) (2009).
Philippe Zaouati is a graduate of Ecole Nationale de la Statistique et de l'Administration Economique (ENSAE) and a member of the French Institute of Actuaries (IAF).
- Jens Peers, Chief Investment Officer equities and fixed income, Mirova
Jens Peers started his career in 1998 as a financial advisor at KBC Bank, Brussels. He then joined KBC Asset Management in 2001 as a financial analyst. In 2003, Mr. Peers moved to Kleinwort Benson Investors, Dublin as head of portfolio management - environmental strategies focused on the following themes: water, agribusiness, cleantech (renewable energy, energy efficiency, waste management).
Jens Peers joined Mirova in 2013 as Chief Investment Officer for sustainable equity. He is currently Mirova's Chief Investment Officer for equities and fixed income.
Jens Peers holds a Master's degree in applied economics from the University of Antwerp, Belgium. He is also a Chartered CFA and is a Certified European Financial Analyst (CEFA) of BVFA-ABAF, the Belgian Association of Financial Analysts.
- Gwénola Chambon, Head of infrastructure, Mirova
Gwénola Chambon started her career within the advisory project finance team at BNP Paribas, where she worked for 7 years. She then moved to monoline insurer CIFG, where she spent four years as head of the infrastructure and public finance department. In 2008, she joined Galaxy's infrastructure equity business before moving to Natixis Environnement et Infrastructures in 2010, working on public-private partnerships as head of the Fideppp and Fideppp2 funds. Gwénola Chambon is currently Head of infrastructure, Mirova. She is a graduate of the ESCP (Ecole Supérieure de Commerce de Paris). She teaches a Master’s level class at the ESSEC on project finance.
- Raphaël Lance, Head of renewable energies, Mirova
Raphaël Lance started his career at Crédit Lyonnais in project finance and asset finance before joining General Electric, where he worked for 12 years. He held M&A and finance roles at GE Oil & Gas and GE Healthcare and then became head of origination for GE Energy Financial Services for France, Spain and Italy (€350m in investments made in the renewable energy sector in the last 5 years). Raphaël joined Natixis Environnement et Infrastructures in 2009 as Director of Fideme and Eurofideme 2. Currently, he is Head of Renewable energies, Mirova.
Raphaël Lance holds a Master's degree and a DESS in finance from Paris IX Dauphine and the INSEAD International Executive Program, respectively.
- Hervé Guez, Head of responsible investment research, Mirova
Hervé Guez started his career in 1997 as a credit analyst in CCF's Credit Department. He then went on to work as a sell-side credit analyst in HSBC bond market units in 2000, followed by Calyon in 2001 and Exane in 2005. He joined Natixis Asset Management in April 2007 as a senior credit analyst before being appointed Head of Responsible Investment Research in June 2008. Hervé Guez has been Mirova's Head of Responsible investment research since 2012.
He holds a Master's degree in banking and finance (DESS Banque-Finance) and the SFAF diploma. He is also a Certified International Investment Analyst (CIIA) (2002).
- Anne-Laurence Roucher, Head of development, Mirova
Anne-Laurence Roucher began her career in 1999 with a one-year assignment as a project manager in a social enterprise (Cana Traiteur). She then joined the management consulting firm AT Kearney, where she spent 5 years (2000-2005) first as a business analyst and then as a senior associate, working exclusively for financial institutions on a wide array of strategic, development and restructuring projects for asset managers, insurers, private equity firms, retail and corporate banks. After two years at Natixis' Strategy Department (2005-2007), Anne-Laurence Roucher joined Natixis AM in 2007 as Head of Strategic Planning, a position she held until early 2012. In November 2012, she was appointed Head of Development at Mirova.
Anne-Laurence Roucher is a graduate of the ESCP (Ecole Supérieure de Commerce de Paris).