Morgan Stanley promoted 173 employees to managing director, a 12% rise from last year, indicating recovery in mergers and capital raising demands within Wall Street.
This year's smaller class of 173 MDs is notable, down from 184 in 2023 and 199 in 2022, shifting dynamics under CEO Ted Pick’s leadership.
Under Ted Pick, Morgan Stanley secured the No. 2 spot in global M&A, suggesting his effectiveness in leveraging market rebounds since taking office.
The promotions breakdown shows 46% from Institutional Securities, 13% from Investment Management, and 9% from Wealth Management; predominantly, 68% of MDs are in the Americas.
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