Blackstone Group: Alphabet CFO Ruth Porat Joins The Board (BX, GOOG, GOOGL)

By Amit Chowdhry ● June 25, 2020
  • Blackstone Group Inc (NYSE: BX) announced that Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) finance head Ruth Porat will join the board of directors

Blackstone Group Inc (NYSE: BX) announced that Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) finance head Ruth Porat will join the board of directors of the private equity firm. Porat had joined Google in 2015 as CFO after working at Morgan Stanley for several years.

Porat spent 27 years at Morgan Stanley, most recently serving as Executive Vice President and CFO of the company. And she held a number of prior senior roles at the bank, including Vice Chairman of Investment Banking, Global Head of the Financial Institutions Group, and Co-head of Technology Investment Banking. At Morgan Stanley, she oversaw many milestone transactions, including Blackstone’s IPO in 2007.

Porat will be the third female on Blackstone’s board along with Kelly Ayotte (former senator) and Rochelle Lazarus (former chief executive officer of Ogilvy & Mather Worldwide).

And Porat is also Vice-Chair of Stanford University’s Board of Trustees and a member of the Board of Directors of the Stanford Management Company, the University’s endowment. And she is a member of the Aspen Institute Economic Strategy Group and the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution.

Porat holds a BA from Stanford University, an MSc from The London School of Economics and an MBA from the Wharton School.

Key Quotes:

“I first worked closely with Ruth during Blackstone’s IPO and greatly admire her talent and judgment. She possesses a deep understanding of the financial services industry from her years on Wall Street and has had a front row seat in Silicon Valley to the technological revolution that is sweeping the world. Her unique perspective will be a tremendous asset to Blackstone’s board.”

– Stephen A. Schwarzman, Blackstone Chairman, CEO and Co-Founder

“We are thrilled to have Ruth joining Blackstone’s board. She’s an exceptional leader and a wonderful person. I know she will have a powerful impact on our firm, given her wealth of experience from both the finance and technology worlds.”

– Jon Gray, President and COO of Blackstone

“I’ve known Steve, Jon and the Blackstone leadership team for many years and have always admired Blackstone’s business and culture. The firm’s tremendous growth, success and innovation is a testament to the quality of its people and the strength of its global platform. I hope to contribute as a member of the Board.”

-Ruth Porat

Featured photo credit: Google