CHICAGO, Jan. 7, 2020 /CNW/ -- Morningstar, Inc. (Nasdaq: MORN) today announced it has appointed Ron Bundy to lead the evolution and growth of its global Morningstar Indexes business. Bundy joined the firm in December as managing director, Morningstar Indexes.
"We are fortunate Morningstar Indexes has grown to a position where we can attract such accomplished leadership," said Kunal Kapoor, chief executive officer, Morningstar. "Ron brings more than 20 years of experience in growing and scaling a global index business, and we could not be more confident in our opportunity ahead to deliver greater value to investors than they have received from entrenched, high-fee providers."
The introduction of such industry veteran leadership reflects Morningstar's confidence and continued investment in a fast-growing indexes business that continues to elicit global demand amid the trend toward low-cost investing and has disrupted fee-intensive benchmarking with its Open Indexes Project.
"With Morningstar's investor-first ethos, there is no company in a better position to lead the way in an indexing industry that remains ripe for investor empowerment, disruption and growth," Bundy said. "By building on the success of Morningstar's indexes business and leaning into the firm's differentiated capabilities across asset classes, sustainability and private equity, we will continue growing value for asset managers, wealth managers, advisors, and ultimately, the end investor."
Bundy was most recently chief executive officer of North America benchmarks and head of strategic accounts for global index provider FTSE Russell. Prior to Russell's 2014 acquisition, Bundy served as chief executive officer of the Russel Index Group, where he grew a U.S.-centric business 20-fold into a truly global operation.
Also joining Morningstar is Pat Fay, managing director of Morningstar Indexes. Fay was formerly head of research and consulting for EQDerivatives and, before that, global head of derivatives for FTSE Russell. Among the many efforts Fay led during his 8 years with CBOE, he spearheaded the launch of the highly successful VIX derivatives.
Since its inception in 2002, Morningstar Indexes has grown asset value linked to Morningstar Indexes to $64 billion (as of Sept. 30, 2019), launched hundreds of beta and strategic beta indexes, embedded the best of Morningstar's independent research into differentiated offerings—such as the Morningstar Wide-Moat Focus Index Family and Morningstar® Women's Empowerment Index—that have underpinned a number of prominent ETF launches, and built strong relationships with leading asset and wealth managers that are empowering investor success.
For more information about Morningstar Indexes, visit http://indexes.morningstar.com.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with about $217 billion in assets under advisement and management as of Sept. 30, 2019. The company has operations in 27 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on Twitter @MorningstarInc.
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SOURCE Morningstar, Inc.
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