Wall Street giant Morgan Stanley promoted 173 of its employees to managing director roles this year, marking a 12% increase from 2024, a source close to the matter told Reuters on Wednesday.
Bank of America also promoted more employees to managing director roles in December, as dealmakers at the biggest U.S. banks prepare for a resurgence in mergers and acquisitions as well as initial public offerings.
The banking sector is hopeful of a friendlier regulatory environment under the incoming Trump administration and expects lower interest rates to stimulate dealmaking.
Morgan Stanley promoted 155 employees to the rank of managing director last year, down from the 184 promotions carried out by the firm in 2023.
The company beat estimates for third-quarter profit in October, driven by strength in its investment banking sector. The bank is set to report its fourth-quarter results next week.
Shares of Morgan Stanley gained 35% in 2024, outperforming broader U.S. equity markets.
Source : Reuters
The 2022 inflationary spike in Europe has brought renewed interest in fiscal drag. Using harmonised…
Credit default swap spreads have become critical benchmarks for credit risk assessment. A recent report…
Nonbank financial institutions play a central role in global credit markets, raising concerns about regulatory…
There were initial concerns that the introduction of the Russian oil price cap in 2022…
High US tariffs on imports from China in the first half of 2025 led to…
The US is taking actions to reshore manufacturing while largely abandoning decarbonisation. This column argues…