Twenty-year public finance veteran Kimberly Welsh has joined Janney Montgomery Scott LLC as managing director in municipal capital markets.
Welsh will work out of Janney's Boston office and provide coverage throughout New England. She comes to Janney after most recently working at Morgan Stanley, where she served as head of New England and the national housing group.
"Kimberly's experience and insight will be of great benefit to our expanding team in Boston and further supports the firm's mission to strengthen all sectors within our capital markets business unit in order to better serve our municipal and institutional clients," said Janney's head of municipal capital markets, Steve Genyk.
Before joining Morgan Stanley in 2007, Welsh spent 18 years at UBS and PaineWebber. She spent 10 years in public finance in New York before moving to Boston in 1999.
Welsh received a bachelors of business administration from Boise State University in Idaho and an MBA in public finance from the University of Albany, where she serves on the dean's board for the school of business. She has also been a member of the Boston mayor's economic development advisory group and a number of other community groups.
"We're absolutely thrilled to have somebody of Kimberly's experience to bank New England for us," Genyk said in an interview.
Like many other firms that avoided many of the problems plaguing Wall Street banks, Janney Montgomery has expanded in the market while some larger firms retreat. Genyk joined the firm last year and has since hired a number of municipal professionals.
Additions to the sales, trading, and underwriting side since June 15 include Dale Foard, Pete Druhot, David Grimmig, John Donovan, and Megan Mulvihill. The firm plans to hire more bankers now that it has added to the sales and trading side of the business, Genyk said.
Janney Montgomery is a subsidiary of Penn Mutual Insurance Co.