Morgan Stanley is one of the country’s largest banks and has recently lost their chief financial officer to Google. Ruth Porat, who has been Morgan Stanley’s chief financial officer for five years now (since 2010) has recently packed her bags for Silicon valley for what many say is a force for fighting issues surrounding gender balance in the work force. Both New York and Silicon Valley have been known to face gender issues in business in the past and having women such as Ruth Porat stand up for women in leadership roles is a huge step forward for empowering women.
Interestingly enough, there have been many moves from many of the east coast powers to west coast tech companies and powers. Some examples of these people include White House spokesman Jay Carney, who mentioned recently that he will be jointing Amazon.com, and former Obama aide David Plouffe, who decided to leave the white house a year ago to join the company Uber. Interestingly enough though, Silicon Valley has been hiring most of their new talent from Wall Street.
A Top Executive at Morgan Stanley Goes to Google
Why this big shift from working in finance in the east coast to working with technology in the west? As of late, jobs in finance have been on a bit of a decline. Since the financial industry has been struggling as of late, there have been many that have decided to move to the world of technology, where jobs are plentiful and where tech companies are clawing at universities and other certification schools to hire as many people with computer science stills as they can. Not only is this industry growing at an incredible rate, but they are also paying their employees very well for their work.
Most say the movement is simply because, after the financial crisis that has recently incurred, people simply do not trust financial jobs to grow. On the other hand, tech firms are showing great amounts of growth. With this growth comes trust from people to work with these tech firms. It will be interesting to see how the tides of these two industries shift in the future.
For full article, Click Here.