Andrew Garvey, who abruptly left Morgan Stanley in May, yesterday joined Cain Brothers & Co. to run the municipal capital markets business.

Garvey joins the New York-based firm, which specializes in health care investment banking, as the market works to cope with the liquidity crunch resulting from the subprime mortgage crisis. He is a managing director, member of the capital markets committee, and a member of the board of directors at the employee-owned firm.

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