‘Most Powerful Woman’ Ruth Porat Leaves Wall Street For Google
Ruth Porat, Morgan Stanley’s Chief Financial Officer, also known as Wall Street’s ‘most powerful woman’, has joined Google as CFO. The announcement was made on March 24, and Porat will start work on May 26, reporting to Google CEO and Co-founder Larry Page.
“We’re tremendously fortunate to have found such a creative, experienced and operationally strong executive. I look forward to learning from Ruth as we continue to innovate in our core–from search and ads, to Android, Chrome and YouTube–as well as invest in a thoughtful, disciplined way in our next generation of big bets,” Page said in the announcement.
“I’m delighted to be returning to my California roots and joining Google. Growing up in Silicon Valley, during my time at Morgan Stanley and as a member of Stanford’s Board, 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 added.
“The Most Powerful Woman on Wall Street”
Porat started at Wall Street at a time were very few women were given positions at the managing director level. In a 2014 interview with Politico, Porat shared there were many women back then who decided to leave jobs rather than ascend up the corporate ladder.
Porat was among the few women who went against convention.
“Since 1987, there are now many more of us as at the higher levels with families, so I think as role models we are encouraging more women to stay within banking and rise up through the ranks,” Porat told Politico.
Throughout the financial crisis, Porat led the Morgan Stanley teams advising the U.S. Treasury on Fannie Mae and Freddie Mac, and the New York Federal Reserve Bank on AIG. She has been the lead banker “on numerous milestone technology financing rounds, including for Amazon, eBay, Netscape, Priceline and Verisign as well as for The Blackstone Group, GE and the NYSE.”
Ruth has a B.A. from Stanford University (Economics & International Relations), an M.B.A. with distinction from The Wharton School of the University of Pennsylvania and a M.Sc., from the London School of Economics (Industrial Relations).
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