(Reuters) - Morgan Stanley (NYSE:MS) 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 (NYSE:C) 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.