Blair Pickerell, head of Morgan Stanley Investment Management in Asia, and Andrew Mack, his counterpart in Europe, have both stepped down in recent weeks as the company undergoes a reshuffle of its senior management outside the US.

Their responsibilities have been taken over by Navtej Nandra, hired in the past month by MSIM chief Gregory Fleming to be the new chief of MSIM International, which covers the funds operations outside the US. Nandra is based in London, as was Mack.