Morgan Stanley folded its global pensions group into its broader client relationship unit, according to Alex Margolies, an executive director who is leading the new group. The firm consolidated the businesses to respond more quickly to client needs, he said. Relationship management for pension funds, endowments and foundations will be combined with the senior relationship management coverage of asset managers, banks, insurance companies and hedge funds.
Previously, the global pensions group provided both sales and transaction services to plan sponsors, endowments and foundations. As part of the restructuring, Sarah Barratt Ball, vice president, and Sandra Haas, executive director, joined the firm's prime brokerage unit from the global pensions group. Sarah Orsay, managing director of the global pensions group, left the firm to become managing director of Goldman Sachs' pension services group, according to Michael DuVally, Goldman Sachs spokesman. He declined to say whether her position was new.