Two managers at Putnam Investments are saying farewell. Brian O'Toole, who managed Putnam's Voyager and Growth Opportunities funds, will leave the firm, Reuters reported on Friday.

David Santos, another investment member of the two funds, will also leave the funds.

Kelly Morgan will take over Brian O'Toole's responsibilities as chief investment officer of the Large-Cap Growth Fund. Morgan is a portfolio manager on the Core Growth Equity team and also director of Global Equity Research, reported Reuters.

Morgan and Robert Ginsberg, a portfolio manager in Core Growth Equity, will co-manage the Voyager and the Growth Opportunities funds.

"We needed to take a hard look and made tough decisions …We're coming to the end of changes in the investment team, but there will always be an element of change," Kevin Cronin, head of investment at Putnam told Reuters.  

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