UK- Barclays Global Investors (BGI) has appointed Jagdeep Bains as head of portfolio transition management, a new role which sees him responsible for defining and managing BGI’s transition trading strategies and implementing them in the UK and Europe.

Bains will be based in London and report to Paul Samuel, head of transition services for BGI Europe. He joins from Merrill Lynch where he was for seven years, most recently as co-head of the European portfolio trading group. Prior to Merrill Lynch he worked at Barra International for six years in research and client support.

A spokesman says BGI created the position as it attempts to build up its transition business. Bains will have six transition managers reporting to him and the overall team led by Samuel is up to twenty three. BGI Europe managed 380 transitions in 2001 worth £47 billion compared with 189 transitions worth £41 billion the previous year.