Putnam Investments said on Tuesday a pair of executives and two other mid-tier employees have left the firm following the recent discovery of "operational errors" made by the individuals back in 2001.

Boston-based Putnam said it has launched a search effort to replace Karnig Durgarian, its now-former investor services unit operations chief. Steven Krichmar, head of global operations services, will fill the role vacated by Durgarian, on an interim basis.

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