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Morgan Stanley CFO Ruth Porat to join Google

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LONDON (ShareCast) - Investment bank Morgan Stanley (Xetra: 885836 - news) 's Chief Financial Officer Ruth Porat will be joining Google (Xetra: A0B7FY - news) in the same executive position, both companies confirmed on Tuesday. She has been head-hunted to replace Google's finance boss Patrick Pichette who announced his intention to retire earlier in March.

Jonathan Pruzan, co-head of Morgan Stanley's global financial institutions group, will step in as CFO upon Porat's departure from the bank on April 30.

Porat joined Morgan Stanley in 1987. She has been the investment banking leader for the financing of several technology companies including Amazon and eBay. Porat also led Morgan Stanley's technology finance team at one point.

She is expected to start at Google on 26 May. Shares (Berlin: DI6.BE - news) in the technology giant rose 1.7% in early trading following the announcement, while Morgan Stanley's declined by 0.6%.