Reuters reports that on Tuesday, Morgan Stanley announced that Chief Financial Officer Ruth Porat, 57, would be leaving at the end of April to head back to Silicon Valley where she has professional and personal roots, to become CFO of Google.
Porat's departure did not surprise other executives inside the bank, who pointed to her age - a year older than Gorman - and the belief that he may not leave for five more years.
Soon after Gorman took over in 2010, there were at least four contenders for his seat: Porat, Colm Kelleher and Paul Taubman, who jointly ran investment banking and trading, and Greg Fleming, whom Gorman brought in to run asset management, later adding wealth management to his responsibilities.
Two of those, Porat and Taubman, are gone or soon to be gone. The other two, Fleming, 52, and Kelleher, 57, may be too old to be CEO when Gorman retires, management experts and Morgan Stanley insiders said.
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