Steven Foresti, chief investment officer, global asset allocation and research at Wilshire Advisors, is transitioning to a senior adviser role, according to a client memo.
Robert Waid, a managing director and head of indexes at Wilshire, also left the firm in May, said spokeswoman Amy Bradford in an email.
Both Mr. Foresti stepping down and Mr. Waid's departure were "personal decisions," Ms. Bradford said. Wilshire declined to comment on their replacements.
However, while Mr. Forestri will be "stepping back from his role as chief investment officer, global asset allocation and research," he will still be partnering with clients, said the memo by Jason Schwarz, Wilshire's president.
Mr. Foresti day-to-day responsibilities will be transitioned to other team members with the assistance of Josh Emanuel, CIO, global investment management, the memo said.
