How relevant is Mr. Fried's experience to Google? Consider his role:
A Managing Director in Morgan Stanley's Information Technology department, Ben Fried manages teams in New York, London, Tokyo and Hong Kong and is responsible for Morgan Stanley's Institutional Securities Web infrastructure and client connectivity. His purview includes numerous Internet sites and a global, multi-platform application-hosting environment running over 1,000 applications, services and portals.
Sounds like a bullseye to me. It will be interesting to see whether Fried will try to rein in the free-wheeling IT culture that Merrill espoused. I somehow doubt that he'll have much of a choice.
I imagine he'll have a lot of fun along the way. Google strikes me as a company that does IT right (even now opening up its data centers to outside developers).