“The Most Powerful Woman on Wall Street”
Ruth Porat
Ruth Porat (b. 1957) was born in England to Jewish immigrants from Israel. Her father was a Holocaust survivor who escaped to a kibbutz and fought in Israel’s War of Independence. He later became a physicist and moved the family first to Massachusetts and then to California, while doing research at Harvard, MIT and the National Accelerator Lab in Palo Alto. Ruth Porat studied at Stanford, and has Master’s degrees from both The London School of Economics and The Wharton School. Throughout most of her career, Porat worked for Morgan Stanley, rising all the way up to the rank of CFO and Executive Vice President. Before that, she served as the Vice Chair of their Investment Banking division, and the head of their international Financial Institutions Group. During the 2008 Financial Crisis, Porat was a chief adviser to the US Treasury, and was praised for helping to save AIG from total collapse, an event that would have completely tanked the economy. Not long ago, she was nicknamed the “Most Powerful Woman on Wall Street”. At the same time, Porat has been married for over 30 years, and is a mother of three, maintaining a steady “work-family mix”, as she calls it, and encouraging her co-workers to do the same. As one of only a few women with such high positions in the financial world, she has become an important role model. She is also a breast cancer survivor. In the past, working as a co-head of Morgan Stanley’s tech investment division, she directed funds to companies like eBay, and Amazon in their early days, helping to turn them into the giant companies they are today. Due to her vast knowledge of both the financial sector and the digital world, she was recently hired by Google, and as of last week, is their new CFO.
Words of the Week
Transgressions of man towards God – Yom Kippur atones for them. Transgressions of man towards man, Yom Kippur does not atone for them, until one seeks forgiveness from one’s fellow.
– Talmud, Yoma 85b
Martin John Gilbert (1936-2015) was born in London to parents of Russian-Jewish background. Soon after World War II broke out, the family was moved to Canada by the British government. Returning to England after the war, Gilbert finished his schooling and served for two years in the British Intelligence Corps. He then went to Oxford to study history. While a postgraduate in 1962, Gilbert was asked by Winston Churchill’s son Rudolph to assist as a researcher for Churchill’s biography. Randolph died a few years later, having brought forth just two volumes on Churchill. Gilbert took over and became the official biographer for Churchill, working on the project for over twenty five years, publishing many volumes along the way. (Currently, there are 31 books encompassing over 25,000 pages, and Gilbert had plans for more.) It was said that “Whoever made the decision to make Martin Gilbert Churchill’s biographer deserves a vote of thanks from the nation. Nothing less would suffice.” Aside from Churchill, Gilbert’s primary interests were studying the World Wars and the Holocaust, as well as producing historical atlases (his were among the very first produced). He also wrote a great deal of books and histories of Jewish communities, of Russia, Israel, and the Arab-Israeli conflict, as well as to assist the plight of Soviet Jewry. All in all, Gilbert published an astounding ninety books, many of which were highly acclaimed. His abilities as a scholar and writer were praised. His first volume on Churchill had an original rough draft with two million words (which Gilbert narrowed down to 300,000 for publication), while the short “precis” version of the biography was a mere 981 pages! Gilbert also wrote for The Sunday Times, and for a number of films and TV programs, did research for the BBC, lectured at the White House, and stood before the UN Human Rights Commission. Since 2009, he served as the Privy Counsellor of the British commission inquiring into the Iraq War. Gilbert won numerous awards and honourary degrees, and was knighted in 1995. Sadly, he passed away last week after a lengthy illness.