Morgan Stanley has announced the promotion of 173 employees to the position of Managing Director, marking a 12% increase from last year but still below the levels seen in the previous two years. A company spokesperson confirmed the promotions.
Among the newly promoted Managing Directors, women will now make up 27% of the total. However, only 3% of the promoted individuals in the U.S. are Black, highlighting ongoing diversity challenges.
The investment banking division saw the largest share of promotions, with approximately 46% of the new Managing Directors coming from the institutional securities department. On average, the newly promoted employees have been with Morgan Stanley for about 11 years.
In comparison, the company promoted 184 Managing Directors in 2023 and 199 in 2022.
