Google hires Wall Street’s most powerful woman
Ruth Porat has traded Morgan Stanley for Google and joined the growing list of Wall Street names jumping ship to Silicon Valley
Ruth Porat (pictured) follows a host of Wall Street executives who have been tempted away to Silicon Valley
The 28-year Morgan Stanley veteran has been appointed Google’s chief financial officer, taking on the same position she previously held at the financial institution. Porat, once called the most powerful woman on Wall Street, is now the highest ranking woman at the world’s largest web search provider, and the latest figure to make the shift into the tech industry.
Start-ups are increasingly looking for business people to help their companies grow
Silicon Valley has strengthened economically over the last few years and the relaxed culture is slowly becoming the more attractive option to Wall Street’s hierarchical decision making. “Just the thought of walking into a tall building in a suit or high heels and going to meetings where you’re discussing a regulated industry where it’s increasingly difficult to innovate — most of the people I talk to don’t find that prospect appealing”, said Martha Josephson, a partner at executive recruiting firm Egon Zehnder, speaking to The New York Times.
Porat’s move follows the example of Anthony Noto who last year left Goldman Sachs to become CFO of Twitter. Imran Khan, former Credit Suisse tech banker, took up a position at Snapchat as their chief strategist. Another Morgan Stanley female executive, Mary Meeker, moved to Kleiner Perkins Caufield & Byers four years ago, while Sarah Friar formerly worked at Goldman Sachs before moving to Square Inc. Start-ups are increasingly looking for business people to help their companies grow, with the driven work ethic of financial workers seen as an attractive asset.
Speaking in a statement, Porat said: “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 firsthand how tech companies can help people in their daily lives.”
