Morgan Stanley has named its biggest class of managing directors for a decade as large investment banks work to keep hold of top employees amid a battle for talent.
The US bank has promoted 199 people to the coveted role of managing director, up from 171 in 2021 and 130 in 2020, according to a person familiar with the matter. The rank is the highest at Morgan Stanley and comes with a significant pay rise. The 2022 promotions are the biggest since 2012.
