Google has hired the woman widely regarded as the most powerful on Wall Street to serve as its new CFO.
Ruth Porat is leaving her CFO post at Morgan Stanley to take up the lead financial role at Google (Nasdaq: GOOG), the tech company said Tuesday. Porat will start at the tech giant on May 26. She has been at Morgan Stanley since 1987.
Porat gained such influence on the Street in part because of her key role during the 2008 financial crisis and its protracted fallout. She advised the US Treasury on mortgage companies Fannie Mae and Freddie Mac and the New York Federal Reserve Bank with on AIG.
British-born Porat will replace Patrick Pichette as Google's CFO. Pichette spent nearly seven years as the financial boss at Google.
Pichette revealed that he was leaving earlier this month in a lengthy Google+ post explaining that he really does want to spend more time with his family.
— Dan Jones, Mobile Editor, Light Reading