Morningstar ceo Don Phillips announced today that Timothy K. Armour, chief operating officer, will be named president, effective immediately.

"Tim's made significant contributions to our success during his first year at Morningstar," said Phillips. "This new organizational structure will help us compete in a global, Internet-based marketplace."

Armour joined Morningstar as COO in April of last year, serving on the firm's seven-member executive committee and overseeing many of the company's key areas. As president, he will direct the progress of Morningstar's lines of business (institutional, professional and individual investor markets, and Internet products) as well as the marketing and product support departments.

Prior to joining Morningstar, Armour was president of Stein Roe Mutual Funds, where he was also the president of fund trusts and a member of the Stein Roe & Farnham board of directors. Armour oversaw all business and sales activities for the $7 billion mutual funds division. Before that, Armour had served as senior vice president, director of marketing for Citibank in Chicago, where he was responsible for all marketing and public relations activities.  

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