Firm’s latest appointment brings 20 years of experience, including stint at rival index provider
Morningstar has announced the appointment of index-industry veteran Ron Bundy to lead its global benchmarks business.
“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,” Morningstar CEO Kunal Kapoor said in a statement.
Bundy, who came in as a managing director at Morningstar Indexes in December, was most recently chief executive officer of North America benchmarks and head of strategic accounts for global index provider FTSE Russell. Prior to Russell’s 2014 acquisition, he was CEO of the Russel Index Group, overseeing its 20-fold growth from a U.S.-centric business to a global operation.
“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,” Bundy said. "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.”
The firm also welcomed Pat Fay, managing director of Morningstar Indexes. Most recently, he worked as head of research and consulting for EQDerivatives, before which he was global head of derivatives for FTSE Russell. He also served for eight years at CBOE, where he spearheaded the launch of the well-recognized VIX derivatives.