Morgan Stanley (MS) has promoted 173 employees to managing director roles this year, representing a 12% increase from 2024, Reuters reported Wednesday, citing an unnamed source close to the matter.
The banking sector is optimistic that there will be a friendlier regulatory environment under the incoming Trump administration and expects lower interest rates to fuel dealmaking activities, according to Reuters.
In December, Bank of America (BAC) also increased the number of employees promoted to managing director roles, the report said.
Morgan Stanley did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
