Morgan Stanley promotes 184 executives to role of managing directors

(Reuters) - Morgan Stanley said on Wednesday it had promoted 184 executives to the role of managing directors, less than the 199 a year earlier, after a challenging 2022 for the investment bank in which profit plunged nearly 28%.

The announcement confirmed a Reuters report from last week, which also said nearly 38% of the managing directors this year were women.

Last month, Citigroup Inc also promoted over 100 women to the position of managing directors, the highest ever for the bank.

Investment banks such as Morgan Stanley have been navigating a tough macroeconomic environment amid fears of a recession and a slowdown in deals, after a bumper 2021.

(Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)

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