Morningstar Investment Management has named its chief investment officer, Thomas Idzorek, as president of its global investment management division.

Idzorek replaces Peng Chen, who is leaving the firm at the end of June, according to a statement.

Idzorek now oversees the company’s investment advisory, retirement solutions, and investment management operations across North America, Europe, Asia, and Australia, which have around $190 billion in assets under advisement/management collectively. He joined Morningstar six years ago, when the firm acquired Ibbotson Associates.

Morningstar had approximately $147 billion in assets under advisement/management for investment advisory services, as of 31 March.