In the latest stage of a meteoric rise, Daniel Needham has been named president of Morningstar Investment Management, in addition to his role as global chief investment officer, putting him in direct control of client assets worth $169 billion.

Needham will report to chief executive Joe Mansueto. Needham is taking the role from former boss, Thomas Idzorek, who has moved to a new position as head of investment methodology and economic research at the data provider.