Morningstar founder Joe Mansueto resigns

The founder and global chief executive of Morningstar, Joe Mansueto, has resigned and will be replaced by the fund data provider’s president, Kunal Kapoor. Mansueto will become the company's executive chairman and will also remain chairman of the board. In a statement, Mansueto said he was ready for an executive chairman role as he approaches 60. He will remain involved in the day-to-day management of Morningstar, and will focus on strategy and capital allocation, and advising Kapoor and the firm’s senior team. Kapoor joined Morningstar as data analyst in 1997 and steadily rose through the ranks, becoming president in October 2015. At present, he is responsible for product development and innovation, sales and marketing, and driving execution and accountability across the company. In his new role Kapoor will also replace managing director Don Phillips on the company's board of directors. Morningstar said Phillips voluntarily opted to step down from the board, as of December 31, 2016, in order to limit the number of internal directors. Mansueto launched Morningstar from his home in Chicago in 1984. The firm was recently valued at $3.6 billion (€3.2 billion). At launch, the company provided data on 423 funds and has grown to cover 530,000 financial vehicles. ©2016 funds europe

Sponsored Profiles

SPONSORED FEATURE: Alternative thinking

Mar 16, 2017

Portfolio Manager Davide Cataldo discusses the results of the Pioneer Investments’ survey on liquid alternatives and how investors can be encouraged to increase their allocation.

SPONSORED FEATURE: Interest rate risk hedging: Swapping to other options

Mar 16, 2017

Heightened margin requirements for cleared and uncleared OTC derivatives pose a challenge for legitimate hedging activities and are driving financial institutions to explore alternative hedging...

SPONSORED FEATURE: Why blockchain could be the fund industry’s next Ford Model T

Mar 16, 2017

Blockchain aims to radically change the way investors can access funds, says Olivier Portenseigne, Managing Director and Chief Commercial Officer of Fundsquare.

SPONSORED FEATURE: Open architecture: In need of protection

Mar 16, 2017

Greater efficiency must be embraced to ensure regulatory changes do not destroy choice for fund buyers, says Bernard Tancré of Clearstream.

Executive Interviews

CEO INTERVIEW: Munro gains three-year track record

Mar 16, 2017

Aviva Investors’ annual results this month were the third set since Euan Munro took over as CEO. Nick Fitzpatrick speaks to him about the ‘Aims’ fund at the heart of the firm’s outcome strategy.

DISTRIBUTION INTERVIEW: Tales of the unexpected

Mar 16, 2017

Laurence Terryn, a fund selector at Candriam, tells David Stevenson how the twists and turns of the past year’s macro environment flavoured her approach to fund selection.

Roundtables

ASSET SERVICING ROUNDTABLE: Under pressure

Mar 07, 2017

Funds Europe speaks to leading Luxembourg industry figures about the growing regulatory demands on asset servicers and how to remain profitable in spite of major investments in technology.

SEC LENDING ROUNDTABLE: Both a borrower and a lender be

Jan 11, 2017

Industry heavyweights, including agent lenders, discuss issues affecting the securities lending sector such as regulation and the types of collateral being used.