Ruth Porat’s Parting Words Shows Why She’s Leaving Morgan Stanley For Google
ByAs she leaves one of Wall Street’s most highly scrutinized jobs for tech giant Google GOOGL +2.15%, outgoing Morgan Stanley MS +0.57% chief financial officer Ruth Porat is willing to reflect on how the banking industry has changed in the years since the financial crisis. Porat, who played a critical hand in the post-crisis transformation of Morgan Stanley, said on Monday the banking industry’s become more stable, but she conceded lower returns are likely to come with a resilient financial system.
Midway through a conference call to discuss Morgan Stanley’s stronger-than-expected first quarter earnings, Porat was asked by sharp-tongued banking analyst Mike Mayo to reflect the regulation of Wall Street and her departure for the greener pastures of Silicon Valley…
Ruth Porat’s Parting Words Shows Why She’s Leaving Morgan Stanley For Google
