Google's new CFO gets $70M for defecting from Morgan Stanley

Google's new CFO gets $70M for defecting from Morgan Stanley

Google's new chief financial officer, Ruth Porat, is being paid more than USD70 million for defecting from the same job at investment bank Morgan Stanley.

The lucrative pay package disclosed in a regulatory filing yesterday underscored how much Google prized Porat, who is considered to be among the most powerful women on Wall Street.

Porat, Morgan Stanley's CFO since 2010, will start her new job May 26. Shortly after her arrival, Google will award her stock valued at USD 25 million and then dole out another bundle of stock worth USD 40 million next year.

Google Inc. also is giving Porat a USD 5 million signing bonus to supplement her starting salary of USD 650,000.

Morgan Stanley paid Porat a USD 1 million salary in 2013 as part of a USD 10.1 million pay package.

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