Gary Dugan, the head of research and investment strategy at Barclays Wealth, has joined Merrill Lynch as chief investment officer of its European private client division amid a battle for talent in London's booming wealth management sector.

Gary Dugan, who was at Barclays for three years and a global equity strategist at JP Morgan for three years before that, will be based in London and reports to Eva Castillo, head of the division in Europe, and to Michael O'Keeffe, head of investment management and guidance.