Loren Starr, chief financial officer of Janus Capital, has resigned, reported Rocky Mountain News. Starr leaves the Denver fund firm with a $3.2 million severance package.

The news comes on the heels of the hiring of David Martin as executive vice president of finance, which Janus announced in early June. Martin was reportedly a former colleague of CEO Steve Scheid's when the two worked at Charles Schwab.

Martin was hired to "oversee the firm’s finance, corporate accounting, tax, strategic planning and investor relations departments. He also will help shape company strategy and be responsible for aligning the resources needed to achieve the company’s long-term objectives."

Martin will take over as chief financial officer and Starr will "pursue other opportunities," according to the Rocky Mountain News. Starr's last official day will be this Saturday.  

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