Peng Chen (below), the Ibbotson Associates president, was named Wednesday as president of the Chicago-based company's Investment Management division, which will include Morningstar Inc.'s investment consulting, retirement advice and investment management operations in North America, Europe, Asia and Australia. In his new position, Chen will oversee Morningstar Associates, Morningstar Investment Services, Old Broad Street 
Research and Seeds Finance, in addition to Ibbotson Associates.
At the same time, Morningstar Inc. announced that the current president of Morningstar Associates, Patrick Reinkemeyer, will leave the firm in mid-December, but will assist in the transition.
According to a spokesperson from Morningstar, Peng and Reinkemeyer were previously co-heads of the Investment Management division, with responsibilities for different businesses inside and outside of the U.S.
In a statement, Morningstar Chairman and CEO Joe Mansueto said Chen had done a "terrific job" leading Ibbotson Associates since Morningstar's acquisition in 2006 of the firm founded by Roger Ibbotson in 1977, and that while the units to be led by Chen in his new position had previously operated separately, "we're now at a point in the evolution of our business where it makes sense to combine the investment management units under one leader."
