DTZ has appointed Barclays chief operating officer Paul Idzik as its chief executive officer.

Idzik, who joins on 3 November, is to take over from Mark Struckett, who decided to step down from the position at the end of June.

Prior to his role as COO at Barclays, Idzik was COO at Barclays Capital. Before that, he was a partner at Booz, Allen & Hamilton, the strategy and technology consulting firm.

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

'In particular, his experience of developing people and building teams to meet evolving client requirements across the global markets and his client-facing ethic is ideally suited to our business strategy.’

The appointment did little to rally shares in DTZ which fell 12.26% to 82p this morning, reflecting a market capitalisation of £48.8m.

The fall comes as shares prices across the property sector suffer in the wake of the wider financial market meltdown.