Barclays lured two investment bankers away from rival UBS and Liberum Capital. The investment bankers were hired to lead the bank's global metals and mining team. On Thursday, Barclays said that Paul Knight and Michael Rawlinson will act as co-heads of the team. They will officially join Barclays in the fourth quarter of this year.

Both Rawlinson and Knight will report to co-heads of global natural resources Julian Vickers and Jeremy Michael. Knight will also be reporting to Bruce Rothney, Barclays' country head for Canada. He will also take a role as vice-chairman, according to Barclays.

Knight, who will be based in Toronto, had spent the last 18 years at UBS, and left as a vice chairman and managing director in the same city. His roles at UBS included chief executive officer for Canada, global head of metals and mining, and head of Latin America investment banking.

Rawlinson, who will be based in London, was previously a managing director at Liberum and led the metals and mining corporate finance team. He is also the co-founder of the bank.