Barry Kenneth was named chief investment officer of Britain's Pension Protection Fund, London, spokesman Richard Hunt said.
Mr. Kenneth is expected to join the £13 billion ($19.4 billion) fund in June.
Mr. Kenneth will replace Ian McKinlay, who was appointed investment director at the £11 billion Aviva Staff Pension Scheme, Perth, Scotland, in June. Mr. Kenneth will report to Martin Clarke, PPF's executive director of financial risk.
Mr. Kenneth is managing director and head of U.K. institutional fixed income and pensions coverage at Morgan Stanley. He will not be replaced, and his responsibilities will be assumed by fellow team members, according to a source at the firm.