Morgan Stanley just promoted 171 people to managing director. Here's a breakdown of the latest class.

<p><img src="https://static1.businessinsider.com/image/6000ade6b805070018995323-2400/GettyImages-1093110426.jpg" border="0" alt="James Gorman Morgan Stanley" data-mce-source="David Wong/South China Morning Post via Getty Images" data-mce-caption="Morgan Stanley global CEO James Gorman, at West Kowloon, Hong Kong. 13NOV17 SCMP / David Wong (Photo by David Wong/South China Morning Post via Getty Images)"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>Morgan Stanley just named 171 new managing directors, the largest pool of promotions in recent years, a person familiar with the matter told Insider.&nbsp;</p><p>At the firm, MD is the most senior designation underneath the C-suite, and among the most elite designations on all of Wall Street. Members of the new MD class this year have an average tenure of 10 years with Morgan Stanley.</p><p>The 2021 class is substantially larger than <a href="https://www.businessinsider.com/morgan-stanley-md-promotions-full-list-of-names-managing-directors-2020-1">last year's group of 130</a>, which, amid cost cuts and layoffs, was among the smallest in years. The the bank&nbsp;<a href="https://www.businessinsider.com/morgan-stanley-internal-memo-with-2019-managing-director-promotions-list-2019-1" data-analytics-module="body_link" data-analytics-post-depth="60" data-uri="dfacfeadba76f42a4c02f715634d767c">promoted 145 managing directors</a> in 2019.</p><p>Much of this year's class has grown within the ranks at the firm, with 49% having been hired into non-officer roles, this person said.&nbsp;</p><p>Here are a few key characteristics of the new group:</p><ul><li>Forty-eight percent of the members come from the firm's institutional securities group, which houses its investment banking and sales and trading operations.</li><li>Nine percent were from the investment management division.</li><li>Thirteen percent come from wealth management.</li><li>The remaining 30% came from the infrastructure group.</li><li>Worldwide, 35% of the group is composed of female members, an increase from 25% in last year's class. Overall, that means that 22% of the firm's MD's are women.</li><li>The number of MD's of color have grown, with the firm seeing a 58% YoY increase in the ethnic diversity of its 2021 MD class: Six percent are Black, 4% are Latinx, and 16% are Asian.</li><li>In terms of regional dispersement, 65% of MD's are based in the Americas. Eighteen percent are in the EMEA region, and another 18% are in Asia.</li><li>Forty-three percent of members of the class hold advanced degrees.</li></ul><p>Morgan Stanley isn't the only firm to induct a crop of new promotions to its most senior designations in recent weeks.</p><p>In November, Goldman Sachs inducted a group of 60 people into its partner pool, which is the firm's most senior designation above the C-suite (at Goldman, partners are more senior than divisional managing directors).</p><p>And <a href="https://www.businessinsider.com/citigroup-md-data-science-daniel-costanza-dealmaking-investment-bank-2020-12">Citigroup followed in December</a>, announcing 153 new managing directors for its latest MD class.</p><p><strong>SEE ALSO:&nbsp;<a href="https://www.businessinsider.com/goldman-sachs-partner-class-2020-banking-wall-street-2020-11" >Goldman Sachs just dropped the banmes of its 2020 partner class, and it's a big day for investment bankers in TMT</a></strong></p><p><strong>SEE ALSO:&nbsp;<a href="https://www.businessinsider.com/citigroup-md-data-science-daniel-costanza-dealmaking-investment-bank-2020-12" >Citigroup's new class of MDs includes a 32-year-old leading the data science efforts in its investment bank. Here's how he plans to make dealmakers smarter through data.</a></strong></p><p><strong>SEE ALSO:&nbsp;<a href="https://www.businessinsider.com/goldman-sachs-partners-learned-david-solomon-morning-call-wall-street-2020-11" >4 brand-new Goldman Sachs partners told us what it's like to get a call from CEO David Solomon inviting them to one of Wall Street's most exclusive groups</a></strong></p><p><a href="https://www.businessinsider.com/full-list-of-names-morgan-stanley-2021-managing-director-promotions-2021-1#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/electric-planes-future-of-aviation-problems-regulations-2020-3">Why electric planes haven't taken off yet</a></p>
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