Keystone Group Inc. has appointed Albert H. Elfner 3d chairman and chief executive of its investment management services company, replacing George S. Bissell, who is retiring.
Mr. Bissell, who has been chairman of the Boston-based mutual fund company for 16 years, will continue to serve on Keystone's board of directors. He also retains his post as chairman of the board of trustees for Keystone's mutual fund family.
Having joined the company in 1969 as an equity analyst, Mr. Elfner had served as president and chief operating officer since 1990. During his tenure at Keystone, he also served as president of the investment management division and as a portfolio manager. He will retain his title of president of Keystone Group.
Mr. Elfner has been instrumental in pushing Keystone to broaden its borders. Specifically, he expanded Keystone's role in global investing. He also initiated relationships with companies based abroad, paving the path for Keystone to distribute it products in Europe and Japan.
Keystone's global offerings have also been hot sellers in the United States. Global funds placed third and fourth among its best selling funds in the fourth quarter, and the No. 1 seller is 20% invested globally, according to a spokesman for the company. The popularity of these funds in the same through both banks and other outlets, the spokesman said. * * *