Morningstar has appointed Ron Bundy managing director, Morningstar Indexes, charged with growing the business.
Bundy previously was CEO of North America benchmarks and head of strategic accounts for FTSE Russell, and before that CEO of the Russell Index Group.
The appointment comes amid continued growth in Morningstar's services targeting index based investing amid industry focus on costs and returns.
Kunal Kapoor, CEO, Morningstar, said: "We are fortunate Morningstar Indexes has grown to a position where we can attract such accomplished leadership. 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."
Bundy said: "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. 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."
Asset value linked to Morningstar Indexes reached $64bn as of 30 September 2019.