Morgan Stanley Expands Leadership Team With 184 MD Appointments

Morgan Stanley promoted 184 employees to Managing Director (MD) positions this year, according to an internal memo seen by Reuters. This represents an increase from 173 MD promotions in 2025, marking roughly a 6% rise. The promotions are concentrated in roles linked to revenue generation, reflecting the bank’s focus on its core business areas.

The move comes as major U.S. banks prepare for increased activity in mergers and acquisitions (M&A) and initial public offerings (IPO). Bank of America also promoted a higher number of employees to MD roles in December, signalling a broader trend among investment banks to strengthen leadership ahead of anticipated deal-making and capital market activity. The promotions at Morgan Stanley highlight the company’s approach to talent development and leadership planning, ensuring that key teams are positioned to support strategic initiatives and revenue-focused operations as market activity intensifies.