Kvaerner, the Norwegian engineering firm that underwent a debt restructuring earlier this year to avoid bankruptcy, has hired Jan Kjaervik from Nordea, the Nordic banking group, as group treasurer.

Kjaervik, who is a manager in the foreign debt financing team at Nordea, will assume his new post in August. He will be responsible for Kvaerner's financial operations, including financing, guarantees, broking of financial products and treasury operations. In his new role, he will report to Trond Westlie, Kvaerner's chief financial officer.