New York-based asset management firm William D. Witter has recently lost two executives due to “managerial differences,” according to a source close to the firm.

Victor Ugolyn, who joined the firm as president in February of last year, left William D. Witter last week, according to the source. He was followed by Shannon Perrin, director of marketing at the firm.

It is not known where either Ugolyn or Perrin have gone, and calls to Ugolyn’s assistant and others at the firm were not returned by press time.

Before joining William D. Witter, Ugolyn served as chairman, president & CEO of Enterprise Capital Management.

William D. Witter, which manages separate accounts and hedge funds for institutions, family offices and high-net-worth individuals, has approximately $1.6 billion in assets under management.