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GLOBAL - Barclays Global Investors has hired Rory Tobin from investment bank J P Morgan as director of transitions, Europe, a new role.

BGI said he would "be responsible for driving forward business strategy and market growth in Europe and Asia". He will report to Chris Sutton, head of BGI's global index and markets group.

Paul Samuel, head of transitions services in Europe, will report to Tobin. He will lead the development of BGI's global transition technology.

In 2003 BGI transitioned 185 billion dollars of assets globally, of which 75 billion dollars was in Europe.

"Rory, with his tremendous depth of knowledge and experience from the world of investment banking, will play a key role in driving the strategic direction of the business," Sutton said.

Tobin added: "Top quality transitions management is very important to pension schemes, so I am looking forward to building on our excellent track record so far, for the future benefit of our clients."

Tobin was previously head of sales for cash equities and co-head of pan-European equity product at J P Morgan. Before that he was at Goldman Sachs for 14 years.

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