Google Inc. said it hired Ruth Porat, Morgan Stanley's chief financial officer, to succeed Patrick Pichette as its new CFO in May.

Porat, 57, will leave Morgan Stanley in April after 28 years at the firm, the New York-based company said Tuesday in a memo to employees. Jonathan Pruzan, 46, co-head of global financial institutions banking, will become Morgan Stanley's new CFO.

Porat, one of Wall Street's most senior female executives, pivots from a job in which she built up cash reserves for safety to one where she must figure out how to use Google's growing cash pile. In five years as Morgan Stanley's CFO, the Stanford University alumna has helped stabilize an investment bank that almost collapsed in 2008.

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