BANKING EXPERT Ruth Porat has joined Google as its CFO. Porat, currently CFO at Morgan Stanley, joins the digital giant on 26 May.
A Morgan Stanley veteran, Porat joined the investment bank in 1987 and led its teams on advising the US Treasury over the fates of government-backed mortgage securities businesses Fannie Mae and Freddie Mac .
Her technology experience comes from serving as lead banker on a number of technology financing rounds, including Amazon, eBay, Netscape, Priceline and Verisign.
She is vice chair of the Stanford University Board of Trustees, a member of the US Treasury’s Borrowing Advisory Committee, a board director at The Council on Foreign Relations and a member of the Advisory Council of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution.
She will take over from Patrick Pichette – who gained some notoriety in recent weeks for his colourful leaving letter.
“We’re tremendously fortunate to have found such a creative, experienced and operationally strong executive,” said Google CEO 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.”