Dan Kemp has been promoted to global CIO of Morningstar's Investment Management group, following Daniel Needham's change in role to become the group's president. 

Kemp, who joined Morningstar Investment Management Europe in 2014 as co-head of investment consulting and portfolio management EMEA, will retain his current responsibilities as CIO, EMEA while the firm recruits a replacement.

Kemp, who has more than 25 years of experience in financial services, was promoted to his current role in 2015 and played a key role in launching the European Morningstar Managed Portfolios, according to the firm. Prior to his time at Morningstar, the CIO held various roles at Williams de Broe, Douglas Deakin Young and Holden Meehan, before co-founding Albemarle Street Partners.

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New group president Needham said: "Dan is an experienced investor, and his insight and expertise have been integral to the transition to a research-focused investment management team.

"Throughout his tenure, he has developed a robust team, producing high-quality research and investment strategies that seek long-term outperformance for the end investor."

He added: "We believe that under his leadership as global CIO he will continue to thrive, providing our clients with robust asset allocation, investment selection and portfolio construction services."