P&M: Porat to leave Morgan Stanley for CFO job at Google
Ruth Porat is to step down as chief financial officer at Morgan Stanley to join Google, ending a 28-year-long career with the investment bank that included a stint running the financial institutions group.
She will leave at the end of April. Jonathan Pruzan, currently co-head of global FIG in the investment banking business and a 20-year veteran of the bank, will be appointed CFO upon Porat’s departure.
At Google, she will also become CFO. Porat is no stranger to the technology industry, having lead Morgan Stanley’s technology banking franchise during the Internet boom.
“Ruth’s work has been instrumental in putting Morgan Stanley on our front foot again,” Morgan Stanley chief executive James Gorman said in a statement. ”I respect her decision that now is the right time to make a change in her career, and I am excited for Ruth in her next chapter.”