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Press release from PR Newswire

Daniel Needham Named Global Chief Investment Officer for Morningstar Investment Management

Wednesday, May 08, 2013

Daniel Needham Named Global Chief Investment Officer for Morningstar Investment Management

08:30 EDT Wednesday, May 08, 2013

CHICAGO, May 8, 2013 /PRNewswire/ -- Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today announced that Daniel Needham, CFA, has been appointed global chief investment officer for Morningstar Investment Management and managing director for Morningstar Investment Management Europe. Needham will also chair Morningstar Investment Management's Global Investment Policy Committee, which oversees all global investment capabilities, committees, and processes.

Needham previously served as managing director and chief investment officer for Morningstar Investment Management's Asia-Pacific operations, including Ibbotson Associates Australia, leading the firm's research, asset allocation, and portfolio management capabilities. Needham will continue to lead this area until the company appoints a new chief investment officer, Asia-Pacific. He will relocate to the United Kingdom from Australia later this year and will divide his time among London, Chicago, and Sydney.

"For the past several years, we've been working to unite our investment professionals around the world," Thomas Idzorek, president of Morningstar Investment Management, said. "Daniel joined the company when we acquired Intech Pty Ltd (now Ibbotson Associates Australia) in 2009, and he played a key role in successfully integrating our Australian investment management operation. He has worked for the combined businesses for more than a decade. His promotion highlights his investment management expertise, his leadership of our Asia-Pacific operations, and the strategic importance of our European investment management business."

Before joining Intech in 2002, Needham was an analyst for Zurich Financial Services in Sydney. He holds a bachelor's degree in commerce with a major in finance and economics from the University of Sydney. He also holds the Chartered Financial Analyst (CFA) designation.

Morningstar Investment Management creates custom investment solutions that combine award-winning research and global resources with proprietary Morningstar data. With approximately $157 billion in assets under advisement and management as of March 31, 2013, Morningstar Investment Management provides comprehensive retirement, investment advisory, and portfolio management services for financial institutions, superannuation funds, and financial advisers. Morningstar Investment Management includes Morningstar's various registered investment advisory and licensed advisory entities around the world: Morningstar Associates, Ibbotson Associates, Ibbotson Associates Australia, Morningstar Investment Services, Morningstar Investment Management Europe, Morningstar OBSR, and Morningstar Investment Consulting France.

About Morningstar, Inc.Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individuals, financial advisors, and institutions. Morningstar provides data on approximately 422,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 9 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its registered investment advisor subsidiaries and has approximately $157 billion in assets under advisement and management as of March 31, 2013. The company has operations in 27 countries.

©2013 Morningstar, Inc. All rights reserved.

MORN-C

Media Contact:Margaret Kirch Cohen, +1 312-696-6383 or margaret.cohen@morningstar.com

SOURCE Morningstar, Inc.

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