Barclays Former Executive Joins Consultancy DTZ

By VIVEK AHUJA

The former chief operating officer of Barclays PLC has emerged, three months after leaving the U.K. bank, at the helm of U.K. property consultant DTZ Holdings PLC.

Paul Idzik was chief operating officer of Barclays Capital, the U.K. group's investment banking arm, from 1999 until he stepped up to take the same role at group level four years ago. He resigned in early May to pursue what he described as his "next challenge," and left the bank at the end of June.

Mr. Idzik, who advised on the restructuring of Barclays's former investment banking business BZW to form Barclays Capital before joining the bank, was named group chief executive of DTZ, according to a statement from the property adviser on Friday.

He will succeed Mark Struckett, DTZ's chief executive for the past 14 years, who the company announced in June would be stepping down from the group. Mr. Struckett will remain as a consultant to the company, which, like many of its rivals, has been making job cuts because of the severe downturn in the commercial real-estate market.

Its share price has fallen by 83% over the past 12 months and closed down 19% at 75 pence ($1.28) in London on Friday. A person familiar with the matter said that while DTZ is considering raising capital "at some point in the future," it would be for the purposes of taking advantage of potential opportunities.

DTZ Chairman Tim Melville-Ross said, "Paul's proven track record of running a significant international business will be invaluable as we continue to grow and diversify DTZ."