Morgan Stanley CFO Ruth Porat to become Google CFO

Google’s next CFO will come from Wall Street.

Ruth Porat, Morgan Stanley’s chief financial officer, will leave the firm to take on the same position at the Silicon Valley Internet giant.

Porat, who has been with Morgan Stanley since 1987 and had been CFO since 2010, will start her new job May 26, Google said in a regulatory filing today. She will replace Patrick Pichette, 52, who is retiring.

Porat, 57, has been the public face of Morgan Stanley and been referred to in reports as the most senior woman — or most powerful — on Wall Street. Key positions she has held at the firm include vice chairman of investment banking and co-head of technology investment banking.

She is also Vice Chair of the Board of Trustees at Stanford, where she received a bachelor’s degree. Borat has an MBA from The Wharton School of the University of Pennsylvania and a M.Sc. from the London School of Economics, according to the filing.

Google announced two weeks ago in a filing that CFO Pichette would be retiring. Pichette, who joined Google in 2008, wrote a widely shared post on Google+ explaining his decision to step down to spend more time with his family.

Other tech companies have lured executives from Wall Street, including Twitter, which appointed Anthony Noto as its CFO last year. Noto hails from Goldman Sachs.

 

Photo: Former Fed Chairman Ben Bernanke, Morgan Stanley Chief Financial Officer and Executive Vice President Ruth Porat and former House Financial Services Committee Chairman Barney Frank, D-Mass., participate in a panel discussion at the Brookings Institution March 2, 2015 in Washington, DC. (Chip Somodevilla/Getty Images)

 

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  • Adonal Foyle

    This is supposed to be GOOD news? Wall Street types have taken the fun out of the industry and replaced it with bottom line economics and the need to be profitable at whatever cost. She and others like her from Wall St. know nothing about technology. Most of us old school techies have seen tech go under a few times over the last 40 years. It’s sure to go under yet again, sooner than later and without a doubt the Wall Streeters will once again be responsible for it. I predict it will have something to do with jobs leaving the country (yet again) and over valuing the latest tech. Prediction: wearables will continue to bomb despite what Apple Corps says and Mark Cuban is right: the bubble will burst when people who have bought into funding apps realize they don’t understand the concept of liquidity when their stock drops and they can’t fund it anymore.

 
 
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