
Google selects as its new chief financial officer Ruth Porat, who will replace Patrick Pichette
Porat will start at Google on May 26, moving from a similar position at the investment banking giant Morgan Stanley.
She
will replace Patrick Pichette, who announced his retirement this month
after nearly seven years as one of the Internet titan's top executives.
Her
work to help rescue the insurance giant AIG during the 2008 financial
crisis earned her the "most powerful" moniker in several media reports.
During
that crisis, she led the Morgan Stanley teams advising the US Treasury
on mortgage finance giants Fannie Mae and Freddie Mac as well as AIG.
Porat
has been at Morgan Stanley since 1987 and has been vice chairman of
investment banking, global head of the financial institutions group and
co-chief of technology investment banking.
She has been the lead banker for big tech firm financing, including for Amazon, eBay, Netscape, Priceline and VeriSign.
Porat,
who will start the new job May 26, has a bachelor's degree from
Stanford University, an MBA from the Wharton School of the University of
Pennsylvania and another master's degree from the London School of
Economics.
"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.”
Two
weeks ago, Canada-born Pichette laid out his reasons for retiring in a
heartfelt post at Google+ social network, explaining in touching detail
how after more than 25 years of non-stop work he is shifting gears to
explore the world with his wife, Tamar.
Porat, who grew up in Silicon Valley, said she was "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," she added. "I
can't wait to roll up my sleeves and get started."
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Morgan Stanley CFO Ruth Porat Leaves for Google MarketWatch
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Google Hires Morgan Stanley's CFO The Wall Street Journal
Google Turns to Wall Street for New CFO The Wall Street Journal
Morgan Stanley CFO Ruth Porat leaves for Google MarketWatch
Google names Morgan Stanley exec Porat CFO ZDNet
Morgan Stanley CFO Ruth Porat Leaves for Google MarketWatch
The Palm Springs Guru congratulates Ruth Porat and welcomes you home to California. Please include our beloved Palm Springs and the greater Palm Springs area during your California travels. Palm Springs is the perfect place to visit, shop, dine, stay, work, play, relax, refresh and rejuvenate. You will enjoy your time in Palm Springs and the greater Palm Springs area.
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