Morningstar Names Chen Chief of Investment Unit

Morningstar has named Peng Chen, president of its Ibbotson Associates unit, president of its 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.

Joe Mansueto, chairman and chief executive officer of Morningstar, said: “Patrick is a talented executive and a skilled investment manager. He created Morningstar’s consulting business as a start-up operation more than a decade ago and built a world-class investment management capability. Patrick has decided it’s time for him to do something new. We’re sorry to see him leave but are glad he’ll be serving as an adviser during a transition period.”

Of Chen, Mansueto said: “Peng is a brilliant researcher and one of the industry’s leading authorities on asset allocation. He played a key role in developing Ibbotson’s investment consulting and retirement advice business before we acquired the firm in 2006 and has done a terrific job leading Ibbotson since then.”

Mansueto said it now makes sense to combine Morningstar’s investment management units under one leader.

Chen joined Ibbotson in 1997 and became its managing director and chief investment officer. He is an expert in asset allocation, portfolio risk measurement, nontraditional assets and global financial markets and has had articles published in the Financial Analysts Journal, Journal of Portfolio Management, Journal of Investing, Journal of Financial Counseling and Planning, and the American Association of Individual Investors Journal.

“I’m thrilled to be taking on this expanded role and look forward to working closely with our global teams to deliver more integrated investment solutions to our clients,” Chen said.

For reprint and licensing requests for this article, click here.
Career moves Money Management Executive
MORE FROM FINANCIAL PLANNING