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Vikram Pandit

Morgan Stanley CFO: Firms Need More Female Execs

Morgan Stanley <MS.N> Chief Financial Officer Ruth Porat on Wednesday called on government and corporate leaders to encourage the promotion of women into senior business roles, saying the number of women in top positions at U.S. corporations is "an embarrassment."Porat, one of the most powerful women on Wall Street, said she supports a law proposed by New York Senator Kirsten Gillibrand that would create national paid family leave, and help women to have children without leaving the workforce. She also encouraged businesses to implement protocols that ensure more women are promoted to senior ranks or given positions on boards of directors."Although the statistics in the U.S. are meaningfully better than they were 50 years ago and better than in many other markets, they're not where they should be and in fact I would say they are an embarrassment," Porat said at an event held by the Japan Society in Manhattan.Porat's comments come at a time when more women business leaders are speaking ...

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