Morgan Stanley Chief Financial Officer and Executive Vice President Ruth Porat joins Google as CFO.
Google announced today that Morgan Stanley Chief Financial Officer and Executive Vice President Ruth Porat joins Google as CFO. Ruth Porat will start at Google as CFO on May 26, reporting to Google CEO and Co-Founder, Larry Page. She will replace Patrick Pichette, who announced to retire earlier this month. He joined Google in 2008. In an insightful post on Google+ he shared why he retired.
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Ruth Porat joined Morgan Stanley in 1987 and has been Vice Chairman of Investment Banking, Global Head of the Financial Institutions Group and and co-Head of Technology Investment Banking.
Throughout the financial crisis, Mrs. 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.
As Morgan Stanley CFO she helped improve resource optimization across different businesses through better capital and funding allocation, as well as expense reductions.
“We’re tremendously fortunate to have found such a creative, experienced and operationally strong executive,” said Larry Page. “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. Finally, huge thanks to Patrick Pichette for his seven super successful years as CFO”.
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"I’m delighted to be returning to my California roots and joining Google,” said Ruth Porat. “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.”