You can change the parent group for a group at any time. Be aware that a group will inherit the content assignments of the new parent group unless the group has explicit content assignments (which override all inherited ones).
To change the parent group for a group
The Select Group dialog box displays.
You can also search for a group by Group Name and/or Org Code. If needed, you can enter an asterisk (*) as a wild card that represents one or more characters.