Morningstar recruits while dismissing three
Morningstar Researchis on the verge of naming a new associate director of research but has at the same time announced the redundancy of three research analysts from the group.
Morningstar chief executive Scott Cooley says the departure of Howard Tweedie, Paul Lynch and Kim Noack was not related in any way to their performance but rather is the result of a restructure in the group which includes the as yet to be named appointment of associate director.
Cooley was unable to supply further details about the new appointment but says it would be well received by the market and brings in a senior person with research management experience.
This year Morningstar has hired Anthony Serhan as head of consulting, Biance Rose as a junior analyst and Justin Walsh as head of research. Cooley says the group’s head count has grown slightly over the year, despite the departures and that the new staff will offer more focused analysis capabilities.
He also says the moves are part of the local operations moving to make greater use of Morningstar resources in other countries.
“We want to do more work in the areas of international fixed interest and equities and will work closely with colleagues in the USA, Canada and Europe as they have greater contact with fund managers in those spaces,” Cooley says.
Cooley says this approach has already worked for the group in regards to the recent issues surrounding Putnam and in the future will allow further development of the local research operations as it will need to spend less time developing international research.
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