Money Management

Morningstar Investment Management chooses Americas CIO

Andrew Lill was named chief investment officer of Morningstar Investment Management, Americas.

The position is new, said a Morningstar spokeswoman.

Daniel Needham, president and global CIO, previously handled the duties, she said. Mr. Lill is CIO of Asia-Pacific for Morningstar Investment Management; he will retain those duties until late January, when he will be replaced by Matt Wacher, the spokeswoman said.

Mr. Wacher is CIO of Cambooya Pty Ltd., an Australian family office.

Messrs. Lill and Wacher both will report to Mr. Needham.

Morningstar Investment Management had $207 billion in assets under advisement and management as of Sept. 30.