US- Michael Peskin, head of the pensions asset liability solutions group at Morgan Stanley, has resigned after over a decade at the firm.
The pensions asset liability solutions team is part of Morgan Stanley Investment Management's global portfolio solutions group, which offers consultative advice to, and builds strategic partnerships with, the firm's clients.
She declined to provide further details about his departure or whether or not the firm plans to ultimately replace Peskin.
However, if MSIM does plan to search for a replacement, the list of likely candidates is slim, said Debra Brown, managing director of the asset and wealth management practice at Russell Reynolds, a recruitment firm.
These positions are usually filled with people who can construct entire portfolios across all asset classes and who can combine their deep financial knowledge with a strong understanding of pensions regulations and client's needs, she said.
Brown said: "People with Michael's skill set are very in demand (but) they are hard to find."
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There have been a total of 15 ministers responsible for pensions since 1997. Here is the list in full.