Daniel Needham 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."
In his new role, Needham is replacing Idzorek, who took over as president of Morningstar Investment Management last year.
Morningstar Investment Management creates custom investment solutions that combine 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 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.
