American investment firm Morgan has recently promoted 184 executives to the position of managing director this year. Although the number is lower than the previous year which was 199, a big win was achieved in the number of women included in the list.
According to Reuters, 38 percent of the 2023 managing directors are women among the newly promoted executives, which is indeed a high record. This move has contributed to boosting the overall number of women on Wall Street to 24 percent.
Similarly, many other top banks have started to promote female executives to top ranks. In 2021, Citigroup Inc. appointed Jane Fraser as its first female CEO, making it the first Wall Street Bank to do so.
They also made a record of promoting over 100 women to the position of managing director, according to Reuters last month.
21 percent of Morgan Stanley's recently promoted U.S.-based managing directors are Asian, five percent are Black and two percent are Hispanic.
As per sources, 66 percent of newly promoted managing directors are from America, 20 percent are from Europe and the Middle East, and 14 percent are from Asia. The full list carrying the names of the managing directors will be released by the next week.
