Keystone Group has named a new head of its small-capitalization mutual fund team.

The Boston-based fund company appointed Christopher R. Ely as portfolio manager of its S-4 Small Cap Growth Fund and America Global Opportunities Fund.

Mr. Ely, who joined Keystone in 1986, replaces Roland Gillis, who recently left the company to take a position at Putnam Investments.

Before joining Keystone, Mr. Ely worked as an investment analyst with Fleet National Bank and also Sun Life of Canada, which has its U.S. operations in Wellesley, Mass.

Keystone Group has $10.5 billion of assets under management.

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