Brian M. Barefoot, a former senior executive with more than three decades of experience at PaineWebber Inc. and Merrill Lynch & Co., has joined Carl Marks & Co. LP. In his new position as senior advisor, Barefoot will identify new business opportunities for the firm and provide strategic advice to current Carl Marks businesses.

Before joining Carl Marks, Barefoot served from 2001-2008 as president of Babson College, an internationally recognized management school in Massachusetts, where he previously served as chairman of its board of trustees. Upon his retirement, he was elected president emeritus.

Prior to Babson, Barefoot served as president and CEO of NeoVision Hypersystems Inc., a leading provider of software solutions for the financial services industry. He remained with NeoVision as a nonexecutive chairman of the board after joining the college.

At PaineWebber Inc., Barefoot served as executive vice president and director of Investment Banking, was a member of its board of directors and president of its subsidiary, PaineWebber International. Barefoot spent 25 years at Merrill Lynch & Co., retiring as senior vice president and managing director. He also founded Frontier Sports Development Corp. in 1992 and served as president and CEO.

"Brian's reputation as a highly effective leader, as well as his extensive experience in financial services and business management, bring a great deal of value to Carl Marks," said Mark L. Claster, president of Carl Marks & Co. "He is a great addition to our team and the continued success of Carl Marks."

Barefoot is a director and member of the Audit Committee and chair of the Finance and Business Operations Committee of Blue Cross Blue Shield of Massachusetts and serves on the board of trustees of St. Edwards School in Vero Beach, Fla. In 1998, he received the prestigious Ellis Island Medal of Honor from the Ellis Island Honor Society for his contributions to the business and educational communities.

Barefoot received his undergraduate degree from Babson College, earned an M.B.A. from Pace University's Lubin School of Management and has attended a number of Harvard Executive Education Programs.