SAN FRANCISCO - Putnam Lovell Securities Inc, a boutique investment bank that specializes in financial services, has hired Richard J. Kelly to be a managing director.

Mr. Kelly was most recently an executive director in investment banking at CIBC World Markets. Previously, he was a managing director and director of investment banking at M.A. Schapiro & Co.

He is now based in the San Francisco firm's New York office and specializes in advising regional banks. He reports to Kathleen Smythe, managing director and head of Putnam Lovell's banking and finance investment banking practice.

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