UK – Gareth Derbyshire, executive director at Morgan Stanley and number two at the firm’s European Pensions Group, has left the company after seven years to join rivals Merrill Lynch.
Derbyshire has had a prominent role within the eight-strong European Pensions Group, headed by Alan Rubenstein, managing director at Morgan Stanley.
The group was set up in 1997 to sell to pension funds Morgan Stanley's equity fixed income and investment banking services. The group also liaises with European governments in the process of reforming their pension arrangements.
It is not clear whether Derbyshire will be directly replaced as others in the team could take on his responsibilities. Morgan Stanley declined to comment. Merrill Lynch was unavailable.