In the last few days, JPMorgan's tax-exempt capital markets group has made two large personnel announcements designed to advance the bank's competitiveness in the U.S. public finance sphere.

Yesterday, JPMorgan announced the leadership team for the tax-exempt capital markets division that will combine the municipal businesses of both JPMorgan and Bear, Stearns & Co., and on Monday the bank said it had hired Jane Garvey to head its transportation public-private partnerships business.

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