Morningstar has named Peng Chen, president of its Ibbotson Associates unit, president of its newly formed global investment management division. In this role, Chen will be responsible for the company's investment consulting, retirement advice and investment management operations in North America, Europe, Asia and Australia, including Morningstar Associates, Ibbotson Associates, Morningstar Investment Services, Old Broad Street Research and Seeds Finance.

Patrick Rinkemeyer, who was president of Morningstar Associates, will be leaving the firm in mid-December.

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