Janney Montgomery Scott’s Capital Markets business unit has added two professionals to its public finance team. John Kelly, a  Managing Director, joins from PNC Capital Markets while  Elizabeth Caputo, a Director, comes from Stifel Nicolaus. A spokesperson for Janney told On Wall Street that the new hires bring the firm’s public finance team to 16, up from 12 individuals at the end of 2011.

At PNC, Kelly recently focused on large governmental issuers in Pennsylvania, Florida and the Midwest, including the City of Philadelphia and the Pennsylvania Turnpike Commission. He’ll continue to work with such issuers.

Caputo was a First Vice President/Public Finance at Stifel Nicolaus, where she was responsible for the launch of that firm’s  East Coast public finance office. At Janney, she will remain focused on middle market municipal issuers in the state of New York.

Kelly will work from Janney’s Philadelphia headquarters and Caputo will be in Janney’s New York City institutional office. Both will report to Tom Henson, Managing Director and head of Janney’s Public Finance Group.

“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.” According to Janney, the firm has increased its market share for senior managed business by 166% since 2010, when Henson took over as head of public finance.