One of Wall Street's most powerful women will become one of Silicon Valley's most powerful women when Ruth Porat joins Google this spring as its chief financial officer.
The Internet search giant [announced] the hiring of the 57-year-old Porat, a longtime Morgan Stanley banker who became its chief financial officer in 2010. She will become Google's highest-ranking female executive when she starts her new job on May 26, 2015
Morgan Stanley promoted Ruth Porat in 2006 to be head of the investment firm’s financial institutions group (FIG).
She spent a year in London and then returned to concentrate on industrial firms. She worked with General Electric to make Genworth Financial’s 2004 stock offering the most successful IPO in two years, and advised the Mexican steel company Hylsamex as it was taken over by the Argentine firm Grupo Techint.
Even outside Morgan Stanley, where she has worked for 26 years, Porat continues to build a powerful industry presence in her ongoing efforts to improve public trust in the financial system. In January at the World Economic Forum in Davos, she described stress-testing and additional transparency as necessary steps to enhancing stakeholders' faith in U.S banks - and spoke of a need for all corporate leaders to set the "tone from the top."
Porat is a member of the U.S. Treasury Borrowing Advisory Committee, which assesses macroeconomic views and makes recommendations on technical issues related to debt management. She also is a trustee at her alma mater, Stanford University.
Her father, Dan Porat, 93, was an electronic engineer at Stanford's SLAC National Accelerator Laboratory from 1962 to 1988. Her mother, Frieda Porat, was a psychologist and teacher who wrote books about organizational management. She died in 2012.more » « less