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.

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