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Rating:Morningstar to Slow Down its Shopping Spree Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, May 18, 2011

Morningstar to Slow Down its Shopping Spree

News summary by MFWire's editors

Investment bankers and M&A consultants, now may not be the best time to try to pitch your dream deal to Joe Mansueto. Lynne Marek of Crain's reports that yesterday the Morningstar CEO told shareholders that he plans to do fewer acquisitions going forward.

Joe Mansueto
Morningstar
Chief Executive Officer
"One danger of doing more acquisitions is you might potentially confuse your clients with your marketing message, and we really want to simplify our business," Mansueto reportedly said yesterday morning at the Morningstar annual meeting at the company's Chicago headquarters. "We've got a pretty complete roster of capabilities ... I want to spend more time on better integrating what we have and really driving excellence throughout the firm."

Mansueto reportedly also confirmed plans to continue expanding overseas, specifically in Brazil, Dubai, Hungary and Poland. 

Edited by: Neil Anderson, Managing Editor


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