Morgan Stanley is zeroing in on three potential chief financial officer candidates amid continued speculation that Ruth Porat will leave the bank for Washington.
The Financial Times reports that Ms Porat, 55, has been CFO of Morgan Stanley for three years but is believed to be President Barack Obama’s top choice as deputy treasury secretary.
While Ms Porat’s candidacy has not been confirmed by the Treasury or Morgan Stanley, bank executives have been discussing internal candidates to replace her if she leaves. Talks have centred on three, according to people familiar with the situation. They are Paul Wirth, who acts as deputy CFO to Ms Porat, Jim Rosenthal, chief operating officer, and Jonathan Pruzan, co-head of the bank’s financial institutions group (Fig).
In the meantime, Bloomberg reports that Morgan Stanley has named Dan Simkowitz to co-lead the firm’s capital markets unit.
Simkowitz, who had been chairman of the unit, will run the group with current head Raj Dhanda, according to an internal memo from investment banking co-chiefs Franck Petitgas and Mark Eichorn.
Three in frame for M Stanley CFO job (subscriber content)