Ruth Porat (left), the chief financial officer of Morgan Stanley (MS), has withdrawn her name as a potential candidate for deputy Treasury secretary, according to several reports.
Porat’s decision, which Morgan Stanley would not comment on, appears to have been made in light of the acrimonious confirmation process endured by Treasury Secretary Jack Lew, a former executive at Citigroup (C), Bloomberg reported.
Lew faced a slew of questions about his compensation from Citi and from New York University but was confirmed on Feb. 27.
Possible candidates who are already in the pubic sector include Mary Miller, the under secretary of the Treasury for domestic affairs, and Lael Brainard, the under secretary of the Treasury for international affairs.
At Morgan Stanley, there had apparently been much speculation about who would succeed Porat, according to the New York Times, which noted that Porat had not yet shared her tax documents with the White House.