Barclays Capital on Friday said it has hired John Devine from Merrill Lynch as chief financial officer and Paul Idzik of Booz Allen & Hamilton as chief administrative officer.

The hirings mark a recovery in the investment banking division of Barclays PLC. The unit posted respectable profits in the first half, helping to dispel talk that the banking company might jettison the unit. Chief executive officer Robert Diamond told Dow Jones that the unit's mission is to be a leading European investment bank.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.