Mr Needham makes the move from his position as managing director of Ibbotson Associates Australia, a section within Morningstar’s Investment Division.
Morningstar Investment Management president Thomas Idzorek said Mr Needham’s promotion highlighted his “investment management expertise [and] the strength of our team in Australia”.
Mr Needham plans to relocate from Australia to the UK towards the end of 2013, after the company appoints a new CIO in the Asia Pacific.
In his role as global CIO, Mr Needham will chair Morningstar Investment management’s global investment policy committee.
He will remain chair of the Ibbotson Associates Australia committee, which governs investment processes and decisions, until the appointment of a new Asia Pacific CIO.
Chris Galloway, formerly co-managing director, will step into the role of managing director of Ibbotson Associates Australia.
“Chris’ promotion reflects his demonstrated capability in development of business strategy and management of delivery of investment outcomes and services to clients,” said Mr Idzorek.
Mr Needham and Mr Galloway moved to Morningstar following the company’s acquisition of Intech Pty Ltd (Intech Investments) in 2009.
