Morgan Stanley has promoted 130 employees to managing directors, Business Insider reported, citing a person familiar with the matter.

This year's batch is smaller than Morgan Stanley's promotions in 2019 at 145 and in 2018 at 153, the report noted.

Among the new managing directors, 58% are based in the Americas, 20% in Europe, the Middle East and Africa and 22% in Asia.

According to the report, 25% of the new managing directors are women.