B&W NAMES NEW CHIEF CORPORATE DEVELOPMENT OFFICER

Babcock & Wilcox has named Mark Carano as a senior vice president and chief corporate development officer, the company said yesterday. Carano previously served as the managing director for investment banking for Bank of America Merrill Lynch’s Global Diversified Industrials and Services Group. B&W said Carano will head up its corporate strategy and merger and acquisition activities. “Mark is an outstanding addition to B&W’s executive team,” B&W President and Chief Executive Officer Jim Ferland said in a statement. “His will be a critical role as we work to achieve our strategic goals to drive sustained, year-over-year growth for our shareholders.”