Janney Capital Markets is continuing to expand its public finance team with the hiring of John Kelly as managing director in its Philadelphia headquarters and Elizabeth Caputo as director in its New York City office.
“We’re expanding to make sure we have the right people in the footprint states that we cover and in certain specialty areas,” said Tom Henson, managing director and head of Janney’s public finance group.
For example, the firm hired two people in January that specialize in higher education financing, and the two recent hires — Kelly and Caputo — will focus on government financing, Henson said.
States where Janney has established a heavy footprint include Pennsylvania, New Jersey, New York, Connecticut, Massachusetts, Rhode Island and Ohio.
Kelly and Caputo will bring to the table a combined 30 years of experience in the financial services industry.
Kelly, who previously worked at PNC Capital Markets, will focus on large governmental issuers.
Over the course of his 20-year career, he has worked with a variety of public finance issuers, including Philadelphia and the Pennsylvania Turnpike.
He received a bachelor of science degree in economics from Harvard University.
Caputo comes from Stifel, Nicolaus & Co., where she was first vice president in public finance for three years.
At Janney, she will focus on middle-market municipal issuers in New York.
Caputo earned her master’s degree in business administration from Harvard School of Business.
“The depth and breadth of experience John and Elizabeth bring to our firm greatly complements the experienced team already in place,” Henson said. “We anticipate their strong track records of success will help drive the continued growth of our institutional municipal business.”
Kelly started on April 9 and Caputo on April 2. Both will report directly to Henson.
Earlier this year, Janney hired Joseph Bosch and Daniel Froehlich for the public finance team in New York. There are currently 20 people on the team, Henson said.
Janney Montgomery Scott LLC, established in 1832, provides comprehensive financial advice and service to individual, corporate and institutional investors.
The firm saw its market share as book-runner double in 2011 from the previous year, according to data from Thomson Reuters.
In 2011, the firm was involved in 165 deals, totaling close to $1.6 billion, with a 0.6% market share.
By comparison, in 2010, the firm was involved in 123 deals, worth almost $1.4 billion, with a 0.3% market share.
For the first quarter of this year, the firm has worked on 56 deals, worth $589.3 million, with a 0.8% market share.