Morgan Stanley Names 184 New Managing Directors

Morgan Stanley has elevated 184 employees to the position of managing director, the firm's highest designation. This year's class size represents a roughly 6% increase over the 173 promotions granted in the previous year. The announcement was made on Wednesday, coinciding with the annual promotion season across Wall Street.

The promotions come on the heels of a robust financial year for Morgan Stanley's dealmaking division. The bank ranked third globally in M&A financial advisory league tables, trailing only Goldman Sachs and JPMorgan. It advised on more than $1 trillion in deal value across more than 400 transactions, a significant increase from the roughly $707 billion in deals handled the prior year. The firm has also communicated bonuses to employees, becoming one of the first on Wall Street to detail how last year's contributions impacted incentive compensation.

The newly appointed executives represent a diverse group regarding their roles and tenure. Seventy percent of the new managing directors work in revenue-generating capacities, interacting directly with clients, while the remaining 30% function in middle- and back-office corporate roles.

Regarding departmental distribution, the Institutional Securities Group accounts for the largest share of promotions at 48%. This division advises corporate clients on IPOs, buyouts, and sales. The Investment Management division comprises 12% of the class, while Wealth Management accounts for 9%.

Geographically, the vast majority of the new MDs are based in the Americas, representing 67% of the class. The Europe, Middle East, and Africa (EMEA) region accounts for 18%, and Asia represents 14%. The new managing directors collectively represent 14 different countries.

Experience remains a key factor in these promotions. The average tenure of the new MDs at Morgan Stanley is approximately 11 years. Additionally, 35% of the class hold advanced degrees, and 49% were originally hired as non-officers before working their way up the corporate ladder.

Morgan Stanley released specific demographic data regarding the 2026 class of managing directors. The class is composed of 27% female and 73% male executives.

For US-based promotions, the firm reported that 31% of the class identifies as ethnically diverse, while 69% are White. The specific breakdown of ethnically diverse US-based MDs is as follows:

• 17% Asian
• 6% Hispanic
• 5% Black
• 3% Other

These statistics provide a snapshot of the leadership structure currently being established at the firm's highest levels.

The timing of these promotions aligns with a broader expectation of increased activity in the financial sector. Headhunters and investment bankers across Wall Street have signaled expectations for robust activity in mergers and capital markets throughout 2026.

This optimistic backdrop likely influenced the distribution of new MDs, with nearly half coming from the Institutional Securities Group. This division is directly responsible for handling IPOs, buyouts, and sales, positioning the firm to capitalize on anticipated market movements. The firm's recent performance, specifically advising on over $1 trillion in deal value, serves as a strong foundation for this expanded leadership team.

The announcement also highlights the competitive nature of Wall Street promotions. Goldman Sachs previously elevated more than 600 managing directors in November as part of its biennial process. Morgan Stanley's annual promotion cycle ensures a consistent elevation of talent to maintain its competitive edge in the market.

How many new managing directors did Morgan Stanley appoint?
Morgan Stanley appointed 184 new managing directors. This is approximately 6% larger than the class of 173 appointed the previous year.

What is the gender breakdown of the new class?
The class is 27% female and 73% male.

Which division has the highest number of promotions?
The Institutional Securities Group accounts for 48% of the new managing directors.