Ruth Porat revealed her plans on joining Google, after nearly completing three decades at Morgan Stanley (). Her new position will be as its new chief financial officer. This will instantly make Porat one of the most powerful women in the tech world!
Porat was already had a reputation as the most powerful woman on Wall Street. She led the Morgan Stanley teams that advised the government on the bailouts of AIG (), Fannie Mae and Freddie Mac. Who knows what would have happened without her pivotal role.
According to a CNNMoney analysis, women are extremely underrepresented in senior management positions in our Corporate America. A number of only 14.2% of the top five leadership positions at the companies in the S&P 500 are held by women,
Lets not even mention finance, where just 13% of those top jobs are held by women.
Porat ,interestingly enough, has background in the tech world. She grew up in Silicon Valley and led Morgan Stanley’s tech banking franchise during the Internet boom. She was the lead banker on countless technology rounds, including ones for Amazon (Tech30), eBay ( , Tech30), Netscape and Priceline ( , Tech30). Indeed, Morgan Stanley will be losing a very valuable asset.,
“I’ve had the opportunity to experience first hand how tech companies can help people in their daily lives. I can’t wait to roll up my sleeves and get started,” Porat said in a statement.
Porat will take over as Google’ CFO on May 26. $64 Billion dollars is what she is going to have to manage, as she will have full control of the company’s finances.
“Ruth’s work has been instrumental in putting Morgan Stanley on our front foot again, It is with a heavy heart that we see her go.” -Morgan Stanley CEO James Gorman
Source: CNN Money