Lars Soderberg, executive vice-president institutional services at Janus Capital, the embattled US fund firm, has become the second executive to stand down since the mutual fund scandal engulfed the company last year.

Soderberg, also a member of Janus' management committee, is taking leave of absence in the light of the mutual fund probes. In a statement Janus said it will continue to evaluate Soderberg's role with the company.