New President for Morningstar's Global Investment Management division

Morningstar, Inc. announced that Peng Chen will be taking up the post, leaving his current role as president of Morningstar's Ibbotson Associates unit.

Chen will oversee 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.  

According to the announcement, Chen joined Ibbotson in 1997. Prior to Morningstar’s acquisition in March 2006, he served as managing director and chief investment officer. Chen is an expert in asset allocation, portfolio risk measurement, nontraditional assets, and global financial markets, according to a news release. 

Morningstar said Patrick Reinkemeyer, who served as president of Morningstar Associates, LLC, has decided to leave the firm in mid-December, but will be available as a management adviser to Morningstar.