Morgan Stanley expands managing director ranks as deals rebound
Morgan Stanley promoted 184 employees to managing director this year, a 6% increase from 2025, as dealmaking activity surged across Wall Street. About 70% of the new managing directors work in revenue-generating roles, with the group averaging 11 years at the firm.
Institutional Securities — home to Morgan Stanley’s core investment banking and trading units — accounted for nearly half of the promotions. Investment management and wealth management followed at 12% and 9%, respectively, News.Az reports, citing Reuters.
The broader investment banking environment recovered strongly in 2025, driven by a revival in large mergers, acquisitions, and multi-billion-dollar IPOs. Global investment banking revenue surpassed $100 billion for the first time since 2021, boosting confidence across the sector.
Other major banks have also been expanding senior ranks. Goldman Sachs plans to promote 638 executives to managing director roles in 2026 — its largest class since 2021 — while Bank of America elevated 394 people in December.
The memo noted that 27% of Morgan Stanley’s new managing directors are women and 31% of U.S. promotees are ethnically diverse, as Wall Street intensifies efforts to improve senior-level representation.
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