Other Regions Employees Executive Officers United Kingdom Australia Joe Mansueto requirements under the Exchange Act. The net capital requirements,  which specify minimum net capital levels for registered broker- dealers, are designed to measure the financial soundness and liquid- ity of broker-dealers. We have a variety of other entities (in Japan, Korea, Thailand, and  France) that are registered with their respective regulatory bodies;  however, the amount of business conducted by these entities related  to the registration is relatively small. We had approximately 3,225 employees as of December 31, 2010,  including approximately 600 data analysts, 65 designers, 320 invest- ment analysts (including consulting and quantitative research ana- lysts), 820 programmers and technology staff, and 520 sales and  marketing professionals. Our employees are not represented by any  unions, and we have never experienced a walkout or strike. Realpoint, LLC, one of our subsidiaries, is an NRSRO specializing  in structured finance. As an NRSRO, Realpoint is subject to the  requirements and regulations under the Exchange Act. Such require- ments relate to, among other things,record-keeping, reporting,  governance, and conflicts of interest. As of February 28, 2011, we had 10 executive officers. The table  below summarizes information about each of these officers. Our subsidiaries that provide financial information services and  advice in Australia, Morningstar Australasia Pty Limited and Ibbotson  Associates Australia, must hold an Australian Financial Services  License and submit to the jurisdiction of the Australian Securities  and Investments Commission (ASIC). This license requires them to,  among other things, maintain positive net asset levels and sufficient  cash resources to cover three months of expenses and to comply  with the audit requirements of the ASIC. Morningstar Associates Europe Limited and OBSR Advisory Services  Limited are authorized and regulated by the U.K. Financial Services  Authority as an investment advisor. As authorized firms, these com- panies are subject to the requirements and regulations of the  Financial Services Authority. Such requirements relate to, among  other things, financial reporting and other reporting obligations,  record-keeping, and cross-border requirements. Additional legislation and regulations, including those relating to  the activities of investment advisors and broker-dealers, changes  in rules imposed by the SEC or other U.S. or non-U.S. regulatory  authorities and self-regulatory organizations, or changes in the  interpretation or enforcement of existing laws and rules may  adversely affect our business and profitability. Our businesses may  be materially affected not only by regulations applicable to it as an  investment advisor or broker-dealer, but also by regulations that  apply to companies generally. Joe Mansueto founded Morningstar in 1984. He has served as our  chairman since our inception and as our chief executive officer from  our inception to 1996 and from 2000 to the present. He holds a  bachelor’s degree in business administration from The University  of Chicago and a master’s degree in business administration from  The University of Chicago Booth School of Business. Morningstar, Inc. 2010 Annual Report 45 Name  Age  Position Joe Mansueto  54  Chairman, Chief Executive Officer,  and Director Chris Boruff  45  President, Software Division Peng Chen  39  President, Investment Management Division Scott Cooley  42  Chief Financial Officer Bevin Desmond  44  President, International Operations and Global Human Resources Catherine Gillis Odelbo  48  President, Equity and Credit Research Elizabeth Kirscher  46  President, Data Services Don Phillips  48  President, Fund Research and Managing Director Richard Robbins  48  General Counsel and Corporate Secretary David W. Williams  50  Managing Director, Design