Zoe Cruz

Zoe Cruz (born Zoe Papadimitriou on February 2, 1955) is a Greek American senior banking executive and former co-president of Morgan Stanley.

Zoe Cruz
Born
Zoe Papadimitriou

(1955-02-02) February 2, 1955
Greece
CitizenshipAmerican
EducationHarvard Business School
OccupationBusiness executive
Known forFormer banking executive at Morgan Stanley
Spouse(s)Ernesto Cruz (div. 2014)[1]
Children3

Early life and education

Cruz was born Zoe Papadimitriou in Greece. At the age of 14, Zoe and her parents moved to Massachusetts, United States. She graduated from Harvard University magna cum laude with a B.A. in Romance Languages & Literatures in 1977 and earned a MBA from Harvard Business School in 1982.[2][3]

Career

In 1982, after graduating from business school and becoming a mother, Cruz was recruited by Morgan Stanley and had a 25-year tenure at the firm. She became a Vice President in 1986, a Principal in 1988 and a Managing Director in 1990. From 2000 to 2005, she held the position of global Head of Fixed Income, Commodities and Foreign Exchange. She was appointed Co-President on February 9, 2006.

In 2006, she was on the list of Forbes' 100 Most Powerful Women of the World and ranked the #10 spot.[4]

On November 29, 2007, Morgan Stanley announced that Zoe Cruz was resigning as co-president of the firm and that she would retire immediately.[5][6]

In 2009, Cruz started hedge fund Vorás Capital Management, a macro fund. The firm was liquidated in 2012.[7]

In January 2014 Cruz, long dubbed "Cruz Missile", joined the Board of Anglo-South African financial behemoth Old Mutual as an independent non-executive director.[8][9]

Cruz was appointed to the board of directors of Ripple in 2017.[10]

Cruz has been personally named in a group of class actions, notably Zakinov v. Ripple Labs Inc. (case number 18-6753), running since 2018 that claim Cruz and her employers, Ripple Labs Inc. have been in breach of various California and Federal securities laws.[11]

Accolades

Cruz was named as the highest paid woman in Fortune.com countdown with total compensation of $30 million in 2006. She was also ranked by Forbes as the 10th most powerful woman in the world in 2006.[12]

References
  1. Stephen Jacob Smith (April 13, 2014). "Zoe Cruz Drowns Her Sorrows in a $7.34 M. Fifth Avenue Co-op". Observer.
  2. "Zoe Cruz Senior Advisor at Promontory Financial Group". VB Profiles. Retrieved April 2, 2019.
  3. "Zoe Cruz". CrunchBase. Retrieved April 2, 2019.
  4. "#10 Zoe Cruz". Forbes. August 31, 2006.
  5. The New York Times: Morgan Stanley Ousts Cruz; Is More Pain Ahead? (November 30, 2007)
  6. Roose, Kevin (2014). Young Money: Inside the Hidden World of Wall Street's Post-Crash Recruits. London, UK: John Murray (Publishers), An Hachette UK Company. p. 65. ISBN 978-1-47361-161-0.
  7. Kishan, Saijel (9 May 2019). "Zoe Cruz Said to Liquidate Hedge Fund Voras Capital". Bloomberg. Retrieved 12 October 2020.
  8. Costello, Miles The Times: "Glass ceiling is wiped out as Cruz missile hits Old Mutual; 7 January 7, 2014.
  9. Old Mutual Old Mutual official website; accessed 10 Oct 2017.
  10. Brian Patrick Eha (December 19, 2017). "Ripple adds Morgan Stanley veteran to board of directors". American Banker.
  11. "18-6753 - Zakinov et al v. Ripple Labs, Inc. et al". U.S. Government Publishing Office. 2020-10-02. Retrieved 2020-10-23.
  12. "The 100 Most Powerful Women". Forbes.com. August 31, 2006. Retrieved October 20, 2020.
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