Companies need more women executives

Government and corporate leaders need to step up and help women get into high-level jobs, says Ruth Porat, CFO of Morgan Stanley, Reuters reports.

Porat is in favour of a proposed law in the U.S. Senate that would give Americans paid family leave, and help women stay in the workforce after having kids.

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She also said that while the level of women in the American executive workforce is better than it was 50 years ago, it’s still an embarrassment.

Porat, who started at Morgan Stanley in 1987, is considered a contender to succeed current CEO James Forman, Reuters reports. But in 1996, when she was up for a promotion, she found out that many of the men reviewing her for the job thought she wouldn’t have the stamina for it. They were over-ruled and she was hired. Porat says she had help from senior executives, who fought for her.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.