Building Capza


CAPZA is committed to enforcing strong corporate governance through independent and transparent decision-making processes.





Christophe Karvelis-Senn

CEO & Co-Founder




Laurent Benard


Laurent Bénard

Managing Partner

Supervisory Board



The Supervisory Board discusses the strategy and development policies put forward by the Management and approves certain key decisions:


  • Christophe Karvelis-Senn, CEO
  • Laurent Bénard, Managing Partner
  • Benoit Choppin, Partner
  • Pascal Christory, Chief Investment Officer at AXA Group
  • Deborah Shire, Head of Structured Finance at AXA IM

Executive Committee



The Executive Committee monitors and manages the execution of decisions taken by the Management and Supervisory Board. It therefore establishes operating priorities and is responsible for ensuring that the strategy is executed across the board.


  • Christophe Karvelis-Senn, CEO
  • Laurent Bénard, Managing Partner
  • Bénédicte de Tissot, CFO
  • Renaud Tourmente, Head of Development
  • Céline Gainet, General Counsel
  • Gwenaëlle Boucly, Head of Marketing
  • Jessy Jerome, Head of Human Ressources

Strategic Committee


The Strategic Committee provides CAPZA with independent advice on its strategic choices and thus supports the group as it grows

Bertrand DUMAZY

Bertrand Dumazy started his career in 1994 as a consultant with Bain & Company (Paris, Los Angeles). He then joined BC Partners in 1999 before founding Constructeo. In 2002, he joined the Neopost group where he was appointed Chief Financial Officer in 2008. In 2011, he became President and CEO of Deutsch. In 2012, he joined Materis Group where he eventually became President and CEO of Cromology. In October 2015, he was appointed Chairman and CEO of Edenred group. Bertrand Dumazy is graduated from ESCP Europe and holds an MBA from Harvard Business School.


Félicité HERZOG

Félicité Herzog joined Lazard Frères in 1992 (Paris, New-York) then JP Morgan in London. In 1997, she joined Apax Ventures & Co. In 2002 she was appointed Director of Mergers and Acquisitions for the Publicis group in Paris. In 2007 she joined Areva as Group Development Director, then as Deputy Managing Director of Technicatome. She joined Vivendi in 2019 as Director of Strategy and Innovation. She is a board member of Telecom Italia and Gaumont. Félicité Herzog is graduated from the Institut d’Etudes Politiques de Paris and from INSEAD.


Georges RALLI

Georges Ralli started his career at Crédit Lyonnais, holding various managerial positions. He then joined investment bank Lazard in 1986 where he managed the European M&A and asset management activities. He is chairman and founder of the funds IPF Partners and LLC RE, and also at the board of Icade and Chargeurs. Georges Ralli is graduated from the Institut d’Etudes Politiques de Paris.

Patrick WERNER

Founder and former chairman of La Banque Postale, Patrick Werner has spent more than 20 years holding various managerial positions in insurance, and banking (Caisse des dépôts, Fédération française des sociétés d’assurances…). He is graduated from Institut d’Etudes Politiques de Paris and from ENA, and is a former Inspector of Finance.



Former Goldman Sachs Partner, Atosa Moini has 20 years of senior investment banking experience, in a range of roles within Goldman Sachs and Deutsche Bank/Bankers Trust in EMEA, with a strong focus on credit markets and private assets. Iranian born, Atosa has studied in Italy and in the UK, where she received her Bachelor’s Degree in Industrial Engineering and held a Master in Business Administration from London Business School.

Investment Committee


Each fund has an investment committee consisting of the directors involved in each type of fund. The committee is responsible for appraising financing proposals submitted by the investment team. Investment decisions are taken unanimously by members of the committee.

Risk Committee


The risk committee monitors the risks at three levels:


  • Portfolio investments
  • Funds
  • Asset management company


Detailed risks are registered on risk maps, which are crucial to CAPZA’s risk management and internal control system. The risk committee meets every quarter.




  • Christophe Karvelis-Senn, CEO
  • Laurent Bénard, Managing Partner
  • Valentine Brisac, Compliance Officer
  • Bénédicte de Tissot, CFO