Morningstar Announces UK Leadership Appointments

London - 13 January 2015

Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, has announced leadership changes for Morningstar UK Limited and the Morningstar Investment Management group.

Mark Roomans has been appointed Chief Executive Officer for Morningstar UK, effective today. He replaces Geoff Balzano, who will focus exclusively on his role as Head of Adviser Solutions for Morningstar in Europe, the Middle East, and Africa (EMEA). The company also announced that Daniel Needham, CFA, has been appointed President and Chief Investment Officer of the Morningstar Investment Management group, effective 2nd February 2015.

Roomans brings more than two decades of senior investment industry experience to his new role. He has been with Morningstar for 14 years, most recently as co-CEO for Morningstar Australasia. He previously served as Chief Operating Officer for Morningstar Europe and as Head of New Markets, where he established the firm’s operations in Mexico, Chile, Brazil, and the United Arab Emirates. He has also led Morningstar Spain and Morningstar Switzerland. Before joining Morningstar, Roomans worked for JP Morgan Investment Management and Merrill Lynch Investment Management.

Balzano joined Morningstar in 2001 and since 2007 has served as Morningstar UK’s Chief Executive Officer. In early 2014, Balzano added the role of Head of Adviser Solutions, EMEA, to his UK CEO responsibilities. Balzano previously served as Vice President of Enterprise Solutions for Morningstar’s Adviser business in the United States, where he was responsible for strategy, development, and product marketing for all of the company’s enterprise software products for financial advisers.

“Geoff is an outstanding leader,” Joe Mansueto, Chairman and Chief Executive Officer for Morningstar, Inc., said. “During his seven-year tenure as UK CEO, Geoff has overseen the growth of our business, including the acquisition of several UK companies. His extensive experience leading our solutions for advisers and firms involved in delivering financial advice and guidance to investors will further our expansion of these capabilities across the EMEA region.

“Mark has proven expertise in directing business strategy and leading teams,” Mansueto continued. “His rich experience within the asset management industry and his passion for driving better outcomes for investors will ensure the continued evolution of our UK business to meet the needs of this important market. I am delighted to welcome him to his new role.”

Needham was named Chief Investment Officer for Morningstar Investment Management in May 2013 and now takes on the additional role of President. He previously served as Managing Director and Chief Investment Officer, Asia-Pacific, where he led the firm’s research, asset allocation, and portfolio management capabilities. Currently based in London, Needham will relocate to Chicago later this year.

“Daniel is a talented leader,” Mansueto said. “He is also an experienced investment manager who has successfully overseen multi-asset investment strategies for more than a decade. He has a keen focus on helping clients and their investors achieve better results.”

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