Obama Considering Morgan Stanley’s Porat for Treasury Job

President Barack Obama is considering two women for senior economic positions, with Ruth Porat, chief financial officer at Morgan Stanley, a leading candidate for deputy Treasury secretary and Wal-Mart Foundation President Sylvia Mathews Burwell a top contender for budget director, according to people familiar with the matter.

Porat has emerged as one of Obama’s top-tier choices for the No. 2 position at Treasury, according to one of the people. She would bring deeper market experience than Jack Lew, Obama’s choice for Treasury secretary, and provide gender balance on an economics team dominated by men, said the people, who requested anonymity to discuss personnel matters that haven’t been announced.