Updated with correction
Frank Ryan, Russell Investments' CFO, and Terry Berland, the company's chief of staff, are departing, according to sources who said the company announced the move in an employee newsletter.
Mr. Ryan is scheduled to leave the Tacoma, Wash., company in June, according to sources familiar with his departure. He plans to return to San Francisco, the sources said, but other information was not available.
Mr. Berland, the sources said, is scheduled to join a New York hedge fund.
Mr. Ryan joined Russell from BGI where he had been CFO. He had worked for at Russell for about two years; Mr. Berland, for nine months. Previously, Mr. Berland was at Barclay's Capital in New York where he was in charge of global purchasing.
Russell spokeswoman Jennifer Tice said the company does not discuss personnel matters.
Attempts to reach Mr. Ryan and Mr. Berland were unsuccessful.