Earlier this month, Morgan Stanley announced a new class of 153 managing directors.

The names of the newly promoted managing directors were released Monday. 

Of the new promotions, 64% came from the Institutional Securities, Investment Management, and Wealth Management divisions. Ninety-five of the new MDs work in the Americas; 38 in Europe, the Middle East, and Africa; and 20 in Asia. 

The 153 promotions bests the 2017 tally of 140, and is just shy of the 2016 class of 156, according to a person familiar with the matter. 

Here are the names:

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Very sad news ...

A Dallas-based investment professional, Galen Weston Swank ("Wes"), was killed in a car crash early Tuesday morning, NBC 5 Dallas-Fort Worth reported. He was 31.

Absolute Return's Rob Copeland was the first to point out on Twitter that Swank worked at Kyle Bass' Dallas-based Hayman Capital. 

According to NBC 5, Swank was going around a curve around 1 a.m. in uptown Dallas when he lost control of his 2009 Mercedes, jumped a curb, and tore through a fence causing the car to go airborne before plowing into some trees, barely missing a creek below.

He was pronounced dead at the scene. 

Police are investigating the crash, the report said. 

We did a FINRA broker check and the records show that Swank went to the Virginia Military Institute in Lexington, Virginia where he was the class valedictorian.  He went to Stanford for graduate school.

Swank also worked at Citigroup in New York from October 2005 to March 2008, the records show.  

NBC 5 reports that he had a wife and a three-month-old baby. 

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Goldman Sachs is changing its managing director selection process, according to an internal memo sent out by Lloyd Blankfein and Gary Cohn and seen by Business Insider. 

According to the contents of the memo, which have been confirmed by Goldman, the bank will start selecting its managing director class every two years.

The bank usually selects new MDs every year.  

According to the memo, ever since Goldman starting tapping managing director classes every year beginning in 1996 it was intending to move to a biennial selection when they reached "critical mass of managing directors at the firm."

"A biennial process will allow us to invest more in the managing director selection process so that it will continue to be a disciplined and rigorous exercise.  This will help to ensure that the managing director title remains as aspirational as it should be for our top performers," the memo states. 

The biennial selection process for managing directors will start after the 2013 class is announced.

In recent years, the Goldman MD classes have been smaller. Last year, the bank named 266 new MDs and in 2011 only 261 — the smallest class since 2008.

Becoming a managing director is seen as a big honor on the Street. At Goldman, it's the level just below the highly-coveted "partner" title. Partners are selected every two years. There were only 70 partners chosen last fall.

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Every year, college and MBA students flock to New York and other financial centers for highly-coveted summer analyst positions at investment banks.

A Wall Street intern who works hard and is a great team player has the potential to turn their 10-week long summer stint into a full-time offer from their respective firm.  

We spoke with Suzanne Gauron, a Goldman Sachs managing director, about internships in the bank's Investment Management Division. 

She shared tips for summer interns and explained what she looks for when making a hire.

Gauron, who studied humanities in college and began her career at Goldman as an intern, also told us what an intern can do to impress her and the biggest mistake they can make.     

We've transcribed our Q&A with Gauron below. (Note: It has been lightly edited for clarity). 

JL: First off, can you give me a little bit about your background and how you got to where you are today? 

SG:"I was a humanities major in college. I studied 18th century poetry. I had no experience in business. I was a summer analyst at Goldman before my senior year in college. That was my first real business experience and I was extremely, pleasantly surprised by that experience. I was invited to come back as a full-time analyst on the same team I worked with that summer in private wealth management. I covered high-net worth clients for two years, went back to business school at that point and then joined the group that I'm in now eight years ago. The group I'm in invests in private equity managers on behalf of Goldman Sachs' clients."

JL: Can you describe the typical day for an intern in your division? What sort of responsibilities do they have?

SG:"In our group, we're an investing group, and our interns work on the transactions that we're working on. They're staffed as though they are full-time employees with the same level of responsibility and involvement. So we're taking them through the transactions. They're working with senior members of the team leading the transactions. They would be doing the valuation work, the research work that we do around the types of investments that we're assessing and they're part of the team that forms a view on whether we are going to make the investment or not.

"That's our group, but generally people are doing a combination of shadowing and education in their summer analyst program that starts to get them to build the types of investment views and perspectives that we're looking for in investment management."

JL: How do you balance the desire to use an intern's talents and delegating responsibility, while still feeling comfortable? Basically, how do you decide how much responsibility to give an intern? 

SG:"We give them as much responsibility as they're willing to take and that they can achieve on. In terms of day-to-day, we're trying to build a support system around the interns so they can be successful. So we're giving them big chunks of responsibility, but we're also giving them a lot of resources that they can use to make sure that they're on the right path on this. That means that they're staffed with another analyst who can help show them the steps that they could take to solve the problem or model out the valuation that they might be working on. They have a mentor who they can talk to about 'Hey, is this a dumb question? or not a dumb question that I'm thinking about and I'm asking about?' because they're integrated in the team they can go to other members of the team at any time. So if I just looked out of my office, they're sitting next to two other analysts who are full-time analysts who have more experience who are willing at any minute to sit with them and take them through a question large or small that may be a challenge to them." 

JL: Do you mentor an intern? 

SG:"I mentor a number of interns. We have a big buddy system and then a more senior mentor. The big buddy is the person who can talk to them about what time do you get in in the morning? What does casual Friday really mean? That sort of day-to-day practical things that can trip somebody up. Then the senior person is there to give broader counsel about career development and the types of feedback you receive during the summer to make sure that people are thinking more long-term about their career and where their place might be in the firm and group."

JL: What sort of advice would you give to an intern in your group? Like, what would be the best piece of advice you could give them? 

SG:"I think the best piece of advice that I give most often is  I think that people get really hung up on the practical skills that they have to have coming in. So what we see in Investment Management is a lot of people want to demonstrate 'Oh, I've run a portfolio. I've invested for myself.' And that's certainly a good thing to have, but the thing that's really priceless over the summer is having a good attitude because during the summer they face a lot of challenging situations and there are long hours and so feeling like the person next to you is excited to be there and wants to do the work every day is the thing you remember about somebody after they've gone back to school in September."

JL: When you were an intern, did someone give you a piece of advice that stuck with you?

SG:"I think my managing director did say to me when I was an analyst, I didn't know at the time it was true, he said look, 'You're 22, you think you're a grown up, but you still have a long way to go.' And when I look back on my career in my 20s, I actually evolved not just as a professional, but as a person a lot with the experiences I had in the first five years. I think people are sometimes too pre-mature in pigeonholing themselves based on who they think they are at 22." 

JL: So what do you think is the biggest mistake an intern can make?

SG:"Probably the biggest mistake is not writing things down and remembering them. So we always tell people that they should ask more questions. That's a very common feedback that we give interns and we're willing to entertain as many questions as they have, but they need to write that down and take that answer on board not just ask a question for the sake of asking a question and then ask it again a week later." 

JL: That's good advice.

JL: What's something that impressed you about an intern?

SG: Probably going the extra step. So there are some interns that do the work and do it well and then there are some interns who say, 'Here's this good work product that I've done that's fully checked and accurate and when I think about how this fits into your business here's the next thing that I think I could do. Or why don't I build you this other model as well.' So offering up other things that they can do that are thoughtful and show that they understand the business is a really exciting thing to see from someone. 

JL: If I were an intern, what's a good way to standout?

SG: "I think being a good team member is always the most important thing. You're probably the youngest person on the desk and sometimes people feel like they're not a full member of the team, but nobody else views it that way. Everyone views it from day one that you're just like everybody else and so that means building personal relationships with other people on the desk, getting to know people and meshing as part of the team so at the end of the summer people are surprised when you have to say that you're going back to school." 

JL: In a job market that is so competitive, what are some of the details which make a difference in an interview or on a résumé? 

SG:"In a résumé, showing expertise at something is really important. So I'm looking for depth as well as breadth of interests. So you have to have taken one thing and moved up in the organization or excelled at a sport or whatever it is that is most interesting to you. And then following on that, in the interview demonstrating passion about that thing. We're not looking for everyone to have a PhD in finance, but we're looking for them to have done anything that they like in the world and done a good job at it and feel deeply about it." 

JL: What advice do you have for someone who wants to turn an internship into a full-time job? What should they do? How should they do that?

SG:"I think it's a combination of coming in every day and doing the work and fitting in on the team so that people don't remember by the end of the summer that you weren't there full-time. I think people can be reasonably vocal about it. We can't read anyone's minds so saying, 'I really like this. I'd like to do this next year' never hurts.

JL: How should someone prepare for an internship in this division? And then talk about the training they get on the job.

SG: "In preparing for the summer, I think following the markets is very valuable because we are investing. So I always ask people what stories they are following in the financial press and what companies they're most interested in. It's not a matter of knowing the price quote for the S&P for the last fifteen days in a row, but having larger framework that they can fit knowledge into over the summer.

"And then on the job, we have a pretty extensive training program at the Investment Management Division level. It starts off with a couple of days where all the interns are together getting an introduction to the firm and to investment management so they understand the different businesses across the division, not just the business that they'll be working in. Then they also throughout the summer have thought leadership gatherings were different business leaders come in and talk about the challenges and interesting opportunities that they're seeing in their businesses. And then professional development as well around things like feedback, thinking about your career, working on teams. So it's both the practical and the longer term."  

JL: Can you talk about the diversity of candidates that you all look for?

SG: "We're looking for very diverse set of students. It's not all finance majors as I said before. I think I'm a pretty good example of that. I hadn't taken any classes that required math in college. We're looking for people who are logical and organized and disciplined and have demonstrated the ability to come up a learning curve in something in the past whether it's learning to speak Chinese or learning to play an instrument or a sport or taking up something else that's a challenge. I think you see that in a cross-section of our summer class that they have a lot of different backgrounds." 

We will be doing these Q&A's with Goldman managing directors in different divisions over the next couple of weeks. Up next will be the Technology department. 

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The technology department at Goldman Sachs is not only one of the biggest divisions at the Wall Street giant, but it's also one of the most crucial. 

The firm executes millions of trades on exchanges all around the world and none that that would be possible without a technology infrastructure that could scale and support that type of volume.

And of course, one way to secure a job in this division is to intern for the summer. 

We spoke with Hari Moorthy, a managing director and technology fellow at Goldman.  Moorthy is the global manager of margin risk for prime brokerage, futures, clearance and execution in Goldman's global securities services division. 

When he's evaluating a candidate for a technology department position, he told us that he looks for three key skills — technology background, analytical skills and communication/leadership.

Those, he explained, fundamentally cover a large gamut of skills that they look for in the technology department of Goldman. 

He added that they also emphasize innovation and using cutting edge technology for those who work in the technology division.  

Moorthy also told us what an intern can do to impress him and the biggest mistake they can make.

We've transcribed our Q&A with Moorthy below. (Note: This has been lightly edited for clarity).

JL: Can you talk about your background and how you got to where you are today?

HM: I joined Goldman in December 2007. I joined into the margin technology group within prime services technology. Prior to that, I worked at a firm called CheckFree Investment Services, chief architect and of software development, focusing on their strategic software development within that division. 

JL: Can you describe what the typical day is like for an intern in your division? What sort of responsibilities do they have at Goldman? 

HM: Sure. Part of our motivation within the intern program is for them to get to know us and for us to get to know them. So in that spirit, we actually give them full responsibility for them to take them through their project which normally takes them about eight weeks. One of the things we do prior is define what kind of project they have to do so that they can actually run through the entire lifecycle of that project. That includes giving them a requirement for what they need to deliver, developing the software, testing it, productionizing it, talking to users, so they get a complete flavor for  everything that have to do if they were working at Goldman. 

JL: How do you decide how much responsibility to give an intern? 

HM: Within the context of the eight weeks that I talked about, we want them to get a flavor for enterprise software development practice.  It's easier for an intern to say I've developed a particular piece of software, but developing it in the context of a bank and making it production quality is very important. So we do give full responsibility for them to the extent that they can take it and we want them to be successful in that framework. 

JL: How about preparing for an internship in this division. What sort of skills does somebody need? 

HM: I think broadly speaking, I would actually say that about three major skill sets, if you will. Obviously, technology background. This being a technology division, you would expect interns to have some idea and basic course work in that regard. The second broad category I would mention is analytical skills, right. You know understanding what a particular data set would mean within that context. And then the third broad category I would say is communication and leadership—The ability to interact in a fairly big, complex organization.

JL: For someone who is interested in interning in the technology department, what classes should they take in school? How do they prepare for an internship?

HM: As the name implies, as it's all about technology, having basic coursework in programming languages such as Java or C++, having coursework in data structures and data-based technology would be useful and then brushing up on basic capital markets knowledge would also be useful. 

JL: OK, just going back to the more day-to-day stuff? What's the work day like? 

HM: I think it's no different from employees, we really strive hard for them to be part of our family during their stay and make sure that they get the same level of time from their senior managers and peers to they feel really like part of our family. 

JL:  Do you mentor interns in your division? 

HM: Yes. That's one of the major programs that they've instituted in our division. We have a formal mentorship administered and organized by our Human Capital Management department. We also have an informal network of buddies who had been interns at the firm at some point in time spending some time with interns. I can't emphasize how much time our senior management within our division spend to make the intern program successful. To illustrate that point, this year we started a half a day long hosting of interns. And pretty much the top forty of our senior managers, all MDs, have spent time with interns explaining what each our divisions within technology have been doing and the direction they've been heading to. So yes we do take the intern experience and internship very seriously at the senior level of this division. 

JL: So I want to talk about intern advice now. So in your opinion, what's the biggest mistake an intern can make? 

HM: I think the biggest mistake is when a person is stuck with a problem or a problem appears to be to complex or too huge, not talking to someone else for advice or seeking help. To me, that probably is the biggest mistake because a person can spend a lot of time trying to understand on their own time. That's something that would be easily available from somebody else's prior experience and knowledge.

JL: What's something that impressed you about an intern? 

HM: I think innovation, right. Looking at a problem in an entirely new way and solving it within the context of enterprise technology I spoke about. You know, technology is evolving at a very high speed, you know, and it's actually very difficult to catch up.  To the extent that they have understood the problem they're trying to solve and they are able to look at it in a brand new prism, that's very impressive. 

JL: If I was an intern in the technology division, what would be a good way to stand out?

HM: I think completing the project at hand in the best possible manner and also going a step ahead and seeing how to best to change or innovate within the context of that project. It's always good to look at the problem in a brand new way... that would be a standout. 

JL: What advice would you have for an intern who really wants to get a job offer from Goldman? 

HM: I think doing the best possible job within that project context that the intern is working on and hitting that out of the park is probably the best advice I'd give. After all, it would be at a firm where actions speak louder than words...

JL: We have a very competitive job market out there, so what are some of the details which make a difference on a résumé or in a job interview?

HM: I would use the same classifications I spoke about earlier. Technical skills—illustrating prior experience or prior coursework any sort of familiarity with the technology background the person has had would be really useful. And then, the second one is difficult to explain in a résumé, but very important in an interview is to display analytical skills.  Obviously, learning a piece of technology is useful only if that is applicable in a real problem in a real scenario.  And then the third broad category is all about communication and leadership, right. The ability to convert a thought process into an actionable system within the context of our firm requires a lot of leadership and communication. 

JL: So in an interview, do you test them on analytical skills? 

HM: Even if it's not an explicit question in an interview, I would always advise them to demonstrate that aspect of their ability and skill. So kind of showing what sort of work has interested them in the past and what they have done. It's one of the important skills that would differentiate a great intern from a good intern. 

JL: Just in case people aren't familiar, can you speak to how crucial the technology department is to Goldman Sachs?

HM: I think the technology department does two major, among many things in my opinion, two major functions — One it serves as a way to improve efficiency and process. Another one is to act as a control function in our ability to understand and appreciate the entire business model that Goldman has. So it's very crucial and we have senior business leaders confirming that often and often again.

We have been doing these Q&A's with Goldman managing directors.  You can check out our investment management division managing director Q&A here. Up next is the securities division. 

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It's Managing Director day at Goldman Sachs, CNBC's Mary Thompson reports. 

According to CNBC, Goldman will tap its MD class today around noon. 

The class is expected to be slightly larger (approximately 20 more names) than last year's class when the bank named 266 new MDs, CNBC reported.   

Earlier this year, we first reported that Goldman changed its managing director selection process from every year to every two years.

Being selected as an MD is a big deal at Goldman.  It's the level just below the highly-coveted "Partnership Managing Director" title. 

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It's Managing Director Day at Goldman Sachs! 

The bank has tapped 280 people to be MDs, which is higher than last year's 266, Bloomberg pointed out.  

It's a big deal to be named a managing director. The title is just one step below "partner." 

The next class of MDs won't be selected until 2015.  Earlier this year, Goldman changed its managing director selection process from every year to every two years.

Here's the full release: 

NEW YORK, November 13, 2013 -- The Goldman Sachs Group, Inc. (NYSE: GS) today announced that it has selected a new class of Managing Directors as of January 1, 2014, the start of our next fiscal year. 

“We wish our new Managing Directors continued success and thank them for their dedication and hard work representing the firm and our clients,” said Lloyd C. Blankfein, Chairman and CEO of Goldman Sachs. 

The following individuals have been promoted to Managing Director:

Katherine Abrat
Afsheen Afshar
Puneet Agarwal
Sergio Akselrad
Philip Aldis
Jean Altier Bohm
Margaret Anadu
Vishweshwar Anantharam
Alexi Antolovich
Silvia Ardagna
Matthew Armas
Anthony Arnold
Yacov Arnopolin
Celine Assouline
Roberto Awad
Amin Azmoudeh
Davie Baccei
Eric Bai
Taran Bakker
Paddy Balasubramanian
Kevin Barker
Lindsay Basloe
Peter Beckman
Collin Bell
Navtej Bhullar
Francois-Xavier Bouillet
Douglas Bouquard
David Bowen
Elizabeth Bowyer
Sarah Brungs
Michael Bruun
Beat Cabiallavetta
Niharika Cabiallavetta
John Cahill
Greg Calnon
Robert Camacho
David Campbell
Thomas Campbell
Michael Casey
John Cassidy
Pascal Cerf
Tiffani Chambers
Sharmini Chetwode
Patricia Chew
Travis Chmelka
Lisa Coar
Charles Cognata
Dahlia Cohen
Rod Colburn
Peter Colven
Stuart Connolly
Stephen Considine
Damien Courvalin
Nora Creedon
Alicia Crighton
Adam Crook (Securities)
Piers Curle
Michael D'Addario
Aneesh Daga
Matt Dailey
Viktor Danielson
Eric Dann
Suzanne de Verdelon
Banu Demirkiran
Michael Deninno
Stratford Dennis
Anthony DeRose
Arun Dhar
Scott Diamond
Rachel Diller
Lin Ding
Rohan Doctor
Anthony Duggan
Sinead Dunphy
Michael Durso
Michael Eakins
Mike Ebeling
Kene Ejikeme
Simon Ennis
Ashley Everett
Amir Fais
Joseph Femenia
Ivan Fillon
Andrew Fisher
Andrew Flahive
Brian Fortson
Bridget Fraser
Olivier Frendo
Gedaliah Friedenberg
Nicolas Friedman
James Fulton
Roger Gardiner
Grace Ge
Matija Gergolet
Phil Giuca
Brian Glass
Ward Glassmeyer
Craig Glassner
Nicholas Godfrey
Lawrence Grassi
Jett Greenberg
David Gribble
Benjamin Grizzle
Anil Grover (LCA Tech)
Fredrik Grunberger
Dominic Gurney
David Ha
Kirsten Hagen
Digboloy Halder
Phillip Han
Sarah Harper
Nick Hartley
Hunter Henry
Debra Herschmann
Michael Hickey
Michael Higgins
Axel Hoefer
Judy Hong
Tim Hooley
Erdit Hoxha
James Huckaby
Michael Husson
Maximos Iakovlev
Inci Isikli
Omer Ismail
Glade Jacobsen
Sumedh Jaiswal
Michael Jalkut
Channa Jayaweera
Derek Jean-Baptiste
Chito Jeyarajah
Jessica Jones
Sami Kamhawi
Geraldine Keefe
Zaid Khaldi
Talat Khan
Gautam Khanna
Robert Kimmel
Hiroki Kimoto
Gil Klemann
Victor Klimchenko
Gordon Kluzak
Heidi Kniesel
Kimiyasu Kono
Joseph Konzelmann
Eric Kramer
Pavel Krotkov
Rohit Kumar
Yojiro Kunitomo
David LaBianca
Jonathan Lamm
Adam Lane
Risa Lederhandler
Andrei Legostaev
Matt Leisen
Vincenzo Lento
Wesley LePatner
Xufa Liao
Brian Liloia
Reginaldo Lima
Marcel Liplijn
Malcolm MacDonald
John Marshall
Jonathan Matz
Patty McCarthy
Michael McGinn
Alan McLean
Olympia McNerney
Scott Mehling
Noa Meyer
Alexandra Miani
Jung Min
Jerry Minier
Anthony Mirabile
Anindya Mohinta
Mike Mooney
Sam Morgan
Will Morgan
Peter Morreale
Rick Morris (Securities)
Piyush Mubayi
Kaushik Murali
Mark Najarian
Josh Newsome
Logan Nicholson
Mike Nickols
Sergei Nodelman
Jolie Norris
Edward Oakley
Timothy O'Donovan
Brian O'Keeffe
Mark Olivier
Stephen Orr
Bartosz Ostenda
Enrico Ottavian
Hiroshi Ozawa
Matthew Papas
Muir Paterson
Cyrille Perard
Chris Perez
Amit Pilowsky
Nick Pomponi
Brandon Press
Ken Prince
Elizabeth Pritchard
Grant Purtell
Don Raab
Radovan Radman
Mohan Rajagopal
Neema Raphael
Michael Rendel
Osmin Rivera
Ludovic Rodhain
Javier Rodriguez-Alarcon
Cosmo Roe
Andrew Rosivach
Jennifer Roth
Armin Rothauser
Jonathan Rousse
John Ryan
Yassaman Salas
Tom Scarpati
Joao Schmidt
Rachel Schnoll
Marc Schreiber
Bruce Schwartz
Lyle Schwartz
Anshul Sehgal
John Semczuk
Hideyuki Seo
Jonathan Shapiro
Johann Shudlick
Andrew Silverman
Brian Singer
Jeremie Sokolowsky
Simone Song
William Stamatakis
Jari Stehn
Jeremy Stent
Alan Stewart
Daniel Strack
Alexandra Stubbings
Masato Sunaga
Takaaki Suzuki
Chia Min Tan
Robert Tau
Sujay Telang
Baris Temelkuran
Rene Theriault
Bart Thomson
Cassandra Tok
Alex Tomas
Karen Trapani
Kamakshya Trivedi
Emma Tsui
Ervin Tu
John Tully
Thomas Turner
Michael Ungari
Krishnamurthy Vaidyanathan
Anilu Vazquez-Ubarri
Sofie Wacha
Scott Walter
Bryce Wan
James Wang
Kent Wasson
Michael Watts
Stephen Waxman
Connie Wen
Colin White
Kyle Williams
Stephen Withnell
Audrey Woon
Chiharu Yamagami
Suzzanne Yao
Rana Yared
Bervan Yeh
Tony Yip
Emi Yoshibe
Vladimir Zakharov

If you know any of these folks, feel free to send an email to jlaroche@businessinsider.com.

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Jefferies CEO Rich Handler sent an open letter to his firm's senior-level bankers providing them with five ways to help make life better for the young analysts and associates, Dealbook reports.

In the last year, Wall Street banks have been criticized for the brutal workload their young analysts tend to take on. Many firms responded by cutting back the long-hours and requiring analysts to take weekends off.

Handler is taking it a step further and reminding his managing directors to appreciate and get to know their underlings.  

"Between the work challenges and the personal obligations, it is very easy to forget, overlook, or take for granted our most precious and critical partners who enable the Jefferies world to keep revolving and our individual careers to continue to shine: our analysts and associates," Handler wrote.

Here are Handlers five thoughts (via Dealbook): 

1. It wasn't that long ago (or at least it doesn’t seem it) that we were the ones that were so eager to help, learn and get the job done for no personal gain, except for the good of the team. Remember what that felt like and personally thank every person that is helping you get your job done today. Yes, a simple acknowledgment and thank you feels good to the recipient and makes a big difference.

2. Everyone wants a mentor, but few work endlessly to find a “mentee.” Pick an associate or analyst to whom you feel some kinship or relationship, or in whom you see a special spark, or perhaps you just like as a person … and get involved in his or her career and personal development. Someone did it for you. Never forget that. It’s time to give back, and every one of us has a little spare time.

3. If you don’t respect the need for some type of normal life balance in the lives of our associates, analysts and support team, shame on you. Now we all know there are periods of time or circumstances that call for time and effort beyond the normal call of duty, but we are not a fraternity or sorority that hazes or takes advantage of people because of the way it was when we were cadets. Waiting until the last minute to hand out work, creating unnecessary projects or deadlines, or just being insensitive makes you a jerk. We do not have or want jerks at Jefferies.

4. Every analyst and associate needs real client contact, as often as possible and practical. If he or she is up all night or weekend on a pitch book, tell her or him to sprinkle some water on their face, straighten out the scarf or tie, and join the team at the meeting. By the way, the clients typically love it.

5. Make it personal. Get to know our young folks as our potential long-term partners. Take an interest in where they grew up and the school from which they recently graduated. Understand their career aspirations and goals. Learn about their families and friends. Nobody gets into Jefferies unless they are amongst the best and brightest and every last one of our associates and analysts is special. Quite frankly, we should all wonder if we could get ourselves into our firm today if we were competing heads up with all of them. They are our future and if we don’t all take a personal interest in each of them, what does that say about our future?

Well said, sir. Well said. 

SEE ALSO: Wall Street CEO gives his employees 10 life lessons he wants them to learn

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Goldman Sachs managing director Heidi Cruz, the wife of Sen. Ted Cruz (R-Texas), has taken an unpaid leave of absence from the bank, Bloomberg News' Michael Moore reports. 

On Monday, Ted Cruz officially announced his candidacy for president during an event at Liberty University in Lynchburg, Virginia. 

Heidi Cruz worked Goldman's private wealth management division in Houston, Texas.

Ted Cruz, who has been a big critic of Obamacare, had been on his wife's Goldman health insurance plan, according to a profile in the New York Times from 2013.

Heidi Cruz, a graduate of Harvard Business School, started at Goldman in October 2005. She was promoted to managing director in November 2012. She previously did a stint at Merrill Lynch. Before that, she worked in the George W. Bush Administration.

She met Ted in 2000. They have two daughters, Caroline and Catherine. 

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Goldman Sachs has promoted 425 people to managing director, making it the firm's largest class ever.

"Our new Managing Directors represent the best of our firm’s dedication to excellence, leadership and client service, and we wish them continued success in their careers," Goldman CEO Lloyd Blankfein said in a statement.

It's a big deal to be named a managing director. The title is one step below partner, one of the most highly coveted titles in investment banking.

This year's class made history. 

About 30% of the new managing directors are millennials. What's more, 40% of the class began their careers as Goldman Sachs analysts. Then 21% were former Goldman summer interns.

There are 106 women on the list, making up 25% of the class. It's the largest percentage of women in a Goldman managing director class. About 30% of the class worked in multiple divisions and multiple regions. Nearly 49% have at least one advanced degree.

The standout division this year was investment banking, with 96 bankers making managing director, compared to 51 in the previous class. The next class of MDs won't be selected until 2017. In 2013, Goldman changed its managing director selection process from every year to every two years. That year, 280 people made the cut.

The following people have been promoted:

Catherine Addona-Peña
Alokik Advani
Sam Agnew
Daniel Ahern
Murtaza Ahmed
Fusae Akamatsu
Phil Almond
Ana Alonso
Roy Appelman
Juliano Arruda
Alex Ashwal
Daniel Avery
Misty Bailey
Tom Barkes
Jose Barreto
Sushil Bathija
Gregoire Baudot
Olivier Belaich
Sharon Bell
Allison Beller
Christine Benson Schwartzstein
Sam Berberian
Todd Berger
Sandy Bernhardt
Greg Berube
Shashi Bhushan (Bengaluru)
Lyla Bibi
Julie Billings
Alexander Blanchard
Tristan Blood
Katherine Bloom
Alexander Blostein
John Blythe
Andrea Bonini
Vijay Borkar
Jean-Pierre Boudrias
Dyson Bowditch
Rhett Brewer
Sean Brewer
Cameron Brien
Tyler Brooke
Marios Broustas
Melissa Brown
Jacob Buitelaar
Jason Burgess
Manuel Camacho
Tim Campbell
Eliot Camplisson
Susana Cao Miranda
Nicholas Chan
Sorubh Chandani
Amy Chang
Dennis Chang
Scott Chastain
Scott Chen (IBD)
Yu Chikami
Vikram Chima
Sung Cho
Caroline Chu
Simon Clarke
Ray Clifford
Jorge Combe
William Connolly
Ron Cortina
Daniela Costa
Yasmine Coupal
Patricia Creedon
Brian Culang
Michelle Daly
Ranga Dattatreya
Christopher Daur
Brian DeCenzo
Alexis Deladerriere
Robert Devens
Devanshu Dhyani
Scott Dias
Johanna Diaz
Simon Dickinson
Andrew DiMaria
Darren Dixon
Terence Donnelly
Christopher Droege
Lindsay Drucker Mann
Frank Drury
Caroline Dunne
Steven Edwards (Internal Audit)
Jeffrey Egee
Naoko Ehara
Inna Elyashkevich
Jason English
Andrew Erekson
Joris Esch
Ana Estrada
Cristina Estrada
Owain Evans
Julia Feldman
Jing Feng
Albert Ferng
Val Feygin
Dan Fishman
Dennis Fleck
Terence Flynn
Ian Foster (IBD)
Kelly Galanis
Ilya Gaysinskiy
Libardo Gerardino
Said Ghusayni
Michael Gillott
Arvind Giridhar
Mark Glotfelty
Chloe Goddard
Lakshya Goel
Peter Goertzen
Andres Gonzalez
Clara Gonzalez-Martin
Claire Goodeve
Anton Gorshkov
Simon Gosling
Jessica Binder Graham
Michael Graham (Securities)
Glenn Greilsamer
Fabrizio Grena
Alain Griveau
Pierre-Yves Guerber
Renaud Guidée
Renu Gupta
Christoph Haenschel
Simon Hale
Jay Handfield
Deirdre Harding
Nada Hassan
Frances Hawkins
Tobias Heilmaier
Christoph Heuer
Kenneth Ho
Luke Hodges
Jennie Holloway
Matthew Hostasa
Henry Howell
Soomin Hu
Victor Hu
Andrew Huang
Lee Hughes
Michael Hui
Shinichiro Ichiki
George Ingram
Francesca Innocenti
Karen Ip
Yuichiro Isayama
Shubha Iyer
Kristy Jago
Matt Jahansouz
Lear Janiv
Jessica Janowitz
Franklin Jarman
Jabe Jerram
Lei Jin
Moritz Jobke
Charles Johnston
Ganesh Jois
Katherine Jollon Colsher
John Jonke
Shrut Kalra
Emiko Kamoda
Markus Kant
Yugandhar Karna
Lotfi Karoui
Vanya Kasanof
Ting Ke
Kyle Kendall
Richard Kendrick
Corey Kenyon
Anthony Kim
Seong Eun Kim
Sean Kingston
Teresa Kingswood
David Kirschner
Michael Klym
Jared Klyman
Andrew Knight
Timur Kocaoglu
Kevin Kochar
Christina Kopec
David Korpi
Caroline Kraus
Jennifer Krevitt
Ajay Kumar
Raj Kumar
Kosuke Kurosawa
Marc Kurz
Takashi Kuwano
Loredana La Pace
Phil Labbe
Marco Laicini
Vidya Lakshmi
Lia Larson
Kinger Lau
Max Layton
Jerome Lebuchoux
Andrew Lee (GIR)
David Lee (IMD)
Jay Hyun Lee (MBD)
Jerry Lee
Shane Lee
Valerie Leeder
Panayiotis Lemonidis
Joe Lenehan
Daniel Levy
Yael Levy
Olga Lewis
Christina Sun Li
Chuan Li
James Li
Edmund Lim
Stephen Little
David Liu
Daniel Lochner
Michael Loetzsch
Donald Lu
Rochelle Lucas
Matthias Ludemann
Christopher Lvoff
Andrew Lyons
Kristen Macleod
Manju Madhavan
Lynn Magnus
Thomas Malafronte
Sajith Maliakel
Rakesh Manani
Elizabeth Mann
Jim Mannoia
John Manzi
Jia Mao
Guillaume Marinacce
Jeremie Marrache
Matthew Mason
Gaurav Mathur
Yuji Matsumoto
Tom McAndrew
Scott McHugh
Andrew McIlroy
Jenny Meng
Shahmil Merchant
Joann Mercurio
Maryline Mertz
Marco Messeri
Hideo Michiba
Jared Miller
Stacey Miller
Elizabeth Milonopoulos
Pascal Mischler
Pooja Mishra Prahlad
Doretta Mistras
Matthew Mizrahi
Hillel Moerman
Soren Moller-Rasmussen
Fausto Monacelli
Q Montazeri
Leonie Morel
Owen Morris
Daniel Motta
Ricardo Mourao
Christian Mueller-Glissmann
Niladri Mukhopadhyay
Mathieu Munuera
Francis Murphy
Thomas Murray
Charles Myers
Harsh Nanda
Asad Naqvi
Ryan Nash
David Naulty
Toh Ne Win
Shapour Neshatfar
Billy Newport
Anya Newton
Katrina Niehaus
Christos Nifadopoulos
Ryan Nolan
Brian Nordahl
Steven Nowak
Matthew O'Callaghan
John Olivo
Oscar Ostlund
Marco Paesotto
Kanak Palanisamy
Sundaram Pandiarajan
Mrudang Pandya
Francesco Paolicelli
Dhaval Parekh
Keyur Parekh
Akash Patel
Himin Patel
Jatin Patel
Cristina Patron
Nicholas Peach
Agostina Pechi
Xi Pei
Shlomit Perry
Joseph Persky
Carlos Prieto
Ricardo Puggina
Tim Quandt
Stephanie Rader
Emilie Railhac
Amit Raje
Sudarshan Ramakrishnan
Akila Raman
Vishaal Rana
Robert Rancitelli
Zeeshan Razzaqui
Paolo Re
David Reis
Kevin Relihan
Ben Reuter
Matt Rhodes
Clare Richards
Brian Richardson
Richard Rivero
Duane Robinson
Fabiano Romeiro
Agustin Romo Calvo
Karen Rossi
Matias Rotella
Anne Russ
C. Kyle Russ
Jamie Russell
Isidoor Rutten
Timothy Ryan
Craig Sabal
Carolyn Sabat
Michael Sachs
Hassan Salamony
Nicholas Saunders
Carly Scales
Marc Schaffer
Tom Schouwenaars
Jameson Schriber
Leonard Seevers
Masataka Sera
Arpan Shah (Internal Audit)
Dhruv Shah
Nitin Shah
Ashoke Sharma
Nik Sharma
Salil Sheth
Jonathan Shugar
Aaron Siegel
Eric Siegel
Julie Silverman
Jim Sinclair
Balaji Sivasubramanian
Neil Slee
Martin Smith (IMD)
Scott Smith
Lin Smyth
Douglas Spell
David Sprake
Jack Springate
Sujatha Srinivasan
Ricardo Stabile
John Startin
John Stecher
Alexander Stiles
Peter Stone
Miruna Stratan
Matthew Straughen
Hiroyuki Sugiura
Joseph Sumberg
Philip Sun
Lawrence Tankel
Richard Tarling
Ian Taylor
Mike Taylor (Services)
Sophie Taylor
Latifa Tefridj-Gaillard
Kurt Tenenbaum
Prasanna Thati
Radha Tilton
Vincent Tiseo
Jandirk tom Dieck
Margo Topman
Shinsaku Toriyama
Dom Totino
Joseph Traina
Matthew Traina
Alexis Tsang
Tetsuya Ukai
Silvia Valente
Laura van Alkemade
Carol Van der Vorst
Alexis Vassilakas
Kerone Vatel
Thomas Vaughan
Meriel Vessey
Alexandra Vincenzi
David Wade
Dennis Walsh
Alex Wang
Jun Wang
Moon Wang
Katherine Ward
Amy Watson
Peter Watson
Whitney Watson
Gregory Watts
Jie Wei
Michael Weiss
Miriam Wheeler
Pete Williams
Wes Williams
Jiahong Wu
Tony Xu
Michael Yaeger
Satoshi Yamagata
Huan Yang
Jonathan Yarrow
Sylvia Yeh
Vincent Yeung
Derek Yi
Jon Yoder
Jaewon Yu
Brendan Zeigon
Daniel Zimmerman
Martin Zoll

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Goldman Sachs just promoted 425 people to managing director — the highest ranking you can achieve before making partner — and the list of people chosen is very telling.

About 30% of the new managing directors are millennials, and a huge chunk of them have been with Goldman their entire careers.

Around 40% of the class were hired at the entry level as analysts, and 20% started out as summer interns, according to the firm.

It's further proof of Goldman's efforts to hold onto its own.

The firm wants a bigger percentage of the graduates it hires to spend a full career at the bank, rather than just spending a couple of years there and then leaving for hedge funds, private equity, or other industries, which is a common career path among junior bankers.

'Build their careers here'

Last week, Goldman Sachs announced an overhaul to the way it promotes and rewards investment bankers at the junior level.

"Everything that we're doing is to try to give us the best opportunity to develop the best of those people and have a subset of them want to build their careers here," said David Solomon, Goldman's cohead of investment banking. "Not all of them, but a subset of them."

The firm will start promoting top investment-banking analysts to associates after only two years at the firm.

Typically, investment banks hire "analysts," or junior bankers, for a two-year program directly out of college. After the analysts put in their two years, most move on to other jobs outside of banking.

Those who stay on usually do a third year as analysts before being promoted to associates. But Goldman did away with its two-year analyst program a couple of years ago in an effort to encourage junior bankers to see themselves at the bank more long term.

The new third-year promotion announced last week means that junior bankers will get a pay raise sooner than they normally would. Across Wall Street, associates earn about $63,000 more than analysts, on average.

It also means that they are on a faster track to becoming vice presidents, and eventually managing directors.

Another reward is a formal "mobility program" the firm is introducing for junior bankers in their third year.

After completing two years in one assignment, analysts — some of whom are promoted to associates — will go on rotational assignment for another full year.

A third initiative will see changes in the type of work that Goldman's junior bankers are doing.

The firm is introducing new technological platforms to pick up some of the grunt work and enable analysts to focus on more value-added work.

DON'T MISS: Goldman Sachs' 2015 managing-director list is out

SEE ALSO: Goldman is pulling out all the stops to hold on to its junior bankers

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Navigating Wall Street as a millennial can be tricky.

You want to network and build relationships, but you have to do it with tact.

We've heard some really simple advice from a senior-level banker and we'd like to pass it on: Don't ask a managing director to get coffee with you. They don't have time.

"I try not to do things that are big time sinks, like the random people that want to meet me for coffee," one managing director at a large investment bank told us.

Instead, it's more tactful to schedule time to meet with the managing director at their office, or at a venue of their choosing. 

"It's so much easier. You know, you waste ten minutes in the elevator, then you waste time in the coffee line, and then you feel like you have to spend thirty minutes with someone. Then you're walking back up. That's an hour, and it doesn't need to be an hour." 

Time is everything in this business. That 20 minute meeting in the convenience of someone's office is much more impactful.

Of course, if a managing director suggests coffee that's fine.

Are you a senior-level person working on Wall Street? Do you have advice for the younger generation? Feel free to send an email to jlaroche@businessinsider.com. 

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Morgan Stanley just released a list of its newest managing directors.

This year's list has 156 names, up from 151 last year.

Thirty-three, or 21%, of the new MDs are women. That's on par with last year, according to a Morgan Stanley representative.

Fifty-four percent of the class works in the Institutional Securities — that is, investment banking and sales and trading — division, up from 52% last year.

Here is the breakdown by region:

• 62% of the new MDs work in the US — down from 64% last year.
• 21% work in Europe, the Middle East, and Africa — down from 26% last year.
• 17% of the new MD class works in Asia — up from 13% last year.

Goldman Sachs named 425 new managing directors in November. That firm promotes new managing directors every two years, as opposed to every year.

To get the must-read guide to the key issues at every major Wall Street bank, click here.

Morgan Stanley last week reported fourth-quarter earnings that beat expectations. The disastrous fixed income, currencies, and commodities division, however, missed expectations and was down year-on-year. The firm began cutting 25% of its fixed-income headcount late last year.

Earlier this month, Greg Fleming, the president of Morgan Stanley's prized wealth-management business, left the firm.

Morgan Stanley CEO James Gorman took a 6.7% pay cut for 2015.

Here's the 2016 managing director list:

SEE ALSO: Morgan Stanley has completely transformed itself since 2009

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Citigroup has just hired two senior Goldman Sachs sales staff in London.

Quentin Andre is joining Citi as global head of structured sales in the equities business.

Dirk Keijer is joining Citi as head of equity derivative sales for Europe, the Middle-East & Africa.

Citi spokesperson Capucine Boncenne confirmed the hires.

Both will report to James Boyle and Conor Davis, EMEA head of investor sales.

Citi has been making a big push in its equities business over the past 12 months. 

Murray Roos joined Citi last year from Deutsche Bank in the new role of global head of sales for equities and prime finance. Citi also hired Steve Roti back in August from Nomura andJohn Lowrey from Chi-X.

A spokesperson for Goldman declined to comment.

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• Goldman Sachs announced its largest-ever class of managing directors.
• Of the 509 promoted, 44% are millennials.
• The firm announces managing-director promotions every two years.
• It's one of the most coveted positions on Wall Street, a step below partner at the premier investment bank.

Goldman Sachs just announced a new class of 509 managing directors — the largest class in the firm's history.

The position is one of the most coveted on Wall Street, one step below partner at the prestigious investment-banking firm. The firm now has 2,148 managing directors, making up 7.1% of the company's workforce.

It's also one of the youngest classes the bank has promoted — 44% are millennials, up from 30% in 2015.

Other headline stats about the class:

• 66% started their careers as analysts or associates at Goldman Sachs.
• 24% of the class is women, down from 25% in 2015.
• 130 were promoted in the securities division, up from 102 in 2015.
• 101 were promoted in investment banking, up from 97 in 2015.
• 52 were promoted in technology, up from 38 in 2015.
• Eight were promoted in consumer and commercial banking — the division that houses the bank's online-lending business, Marcus — compared with zero in 2015.

Here's the full statement:

The Goldman Sachs Group, Inc. (NYSE: GS) today announced that it has selected a new class of Managing Directors, effective from January 1, 2018, the start of the firm's next fiscal year.

"Our new Managing Directors have demonstrated an outstanding commitment to our people, clients and culture during their tenures at the firm, and we wish them continued success as they take this important next step in their careers," said Lloyd C. Blankfein, Chairman and Chief Executive Officer of Goldman Sachs.

The following individuals have been promoted to Managing Director:

Gregg Abramson
Sanjay Acharya
Khalid Albdah
Amal Alibair
Karthikeyan Anbalagan
Rolf Andersson
Volker Anger
Jonathan Armstrong
Ken Ashley
Lavanya Ashok
Sebastian Ayton
Jonathan Babkow
Julio Badi
Amitayush Bahri
Soren Balzer
Robert Barlick Jr.
Philip Barreca
Santiago Bau
David Bauer
Oksana Beard
Lee Becker
Virender Bedi
Stuart Beer
Christian Beerli
Amanda Beisel
Yumiko Bekku
David Bell
Pierre Benichou
Andrew Benito
Marco Bensi
Laura Benson
Stephen Bergin
Daniel Berglund
Greg Berry
Shital Bhatt
Dipanjan Bhattacharjee
Anu Bhavnani
Carissa Biggie
Vineet Birman
Daniel Bitel
Anne Black
Richard Blore
Emmanuel Bodenstein
Timothy Braude
Sean Brenan
Hugh Briscoe
Nathaniel Bristol
Leo Brito
Troy Broderick
Levee Brooks
Eric Brothers
Robert Bruns III
Anthony Bunnell
Meg Burke
Susan Burt
Sean Butkus
Russell Byrne
Edward Byun
Adam Cahill
Alessandro Calace
Cristiano Camargo
Ken Cawley
Swapan Chaddha
Patrick Chamberlain
Richard Chambers
Daphne Chan
Lily Chan
Ben Chance
Ginger Chang
Vikram Chavali
Alex Cheek
Jae Joon Choi
Ken Choi
Paul Choi
David Clark
Denis Cleary
Daniel Cleland-James
Ayanna Clunis
Pamela Codo-Lotti
Jesse Cohen
Paul Coles
Simon Coombes
Jenny Cosco
Philip Coureau
Nathan Cowen
Matthew Cox (Securities)
Shaun Cullinan
Christine D'Agostino
Emile Daher
Hiren Dasani
Russell Day
Pierre De Belen
Merche del Valle
Caitlin DeSantis
Jack Devaney
Thomas Devos
Mats Dewitte
Hristo Dimitrov
Tim Dinsdale
Isabella Disler
Christian Ditullio
Terence Doherty
Yakut Donat
Nicola Dondi
Brian Dong
Jason D'Silva
Stefan Duffner
Jane Dunlevie
Marie Duval
Julien Dyon
Rohini Eapen
Zach Eckler
Sayaka Eda
Jason Eisenstadt
Chris Emmerson
Tiffany Eng
Chendan Esvaran
Erkko Etula
Liz Ewing
Michael Fargher
Matteo Farina
Leigh Farris
Sarah Faulkner
Tom Favia
Brett Feldman
Jennifer Feng
Jon Ferguson
Alex Field
Herbert Filho
Alex Finston
Dean Flanagan
Greg Flynn
Trip Foley
Andrew Ho Kwon Fong
Moran Forman
Michael Fox
Caroline Fraser
Daniel Freckleton
Tim Freeman
Reto Frei
Giles French
Kirsten Frivold
Michael Fu
Rob Fuentes
Kenji Fujimoto
Carrie Gannon
Chantal Garcia
Akhil Garg
Alex Garner
Nick Gelber
Andrew Gent
Gizelle George-Joseph
Andrea Gift
Sean Gilbride
Andreas Glaser
Yong Suan Goh
Sona Gohel
Amir Gold
Jeremy Goldstein
Steven Gonzalez
Jeff Gowen
Adam Greene
Tom Groothaert
Hannes Gsell
Ashwin Gupta
Ali Haji
Ayaz Haji
Robert Hamilton Kelly
Victoria Hampson
Raja Harb
Andy Harding
Ryan Harster
Selma Hassan
Stephen Hawinkels
Jacqueline Haynes
Jason He*
Craig Hempstead
David Herrmann
David Hickey
Thomas Hilger
Mitch Hochberg
Jodi Hochberger
Jane Hodges
Peter Hodgkinson
Dylan Hogarty
Tim Holliday
Naftali Holtz
Amy Hong
Jason Hudes
Earl Hunt
Joseph Hwang
Yoshinori Ide
Kazuya Iketani
Daniel Jackson
Ankit Jain (Risk)
Gaurav Jaitly
Jan Janssen
David Jeria
Alnawaz Jiwa
Kim Johns
Scott Johnson
Elis Jones
Neil Jones
Robert Jones
Philip Joseph
Anand Joshi
Shawn Joshi
Ritu Kalra
Michael Kaprelian
Nadeem Kayani
Alicia Keenan
Neil Kelleher
Tom Kennedy
Aqil Khan
Sarah Kiernan
Daniel Kim
Eugene Kim (IMD)
Jason Kim (GIR)
Sora Kim
Kristy Kinahan
Eugene King
Laura Kirk
Kunal Kishore
Elliot Klapper
Jayee Koffey
Jason Koon
Jennifer Kopylov
Daniel Korich
Ichiro Kosuge
Vladimir Kotlyar
Samuel Krasnik
Katherine Krause
David Kraut
Sergey Kraytman
Nitin Kulkarni
Ram Kulkarni
Dileep Kumar (Securities)
Santosh Kunnakkat
Wendy Kwong
JP Lall
Bill Lambert
David Landman
Yi Larson
Niccolo Laudiero
Nick Laux
David Lee
Phillip Lee
Samuel Lee
Shawn Lee
Michael Leister
David Lerner
Naomi Leslie
Matt Levine
Na Li
Haining Liang
Nancy Licul
Monica Lim
Michelle Ling
Srujan Linga
Philip Linton
Alan Liu
Daniel Liu
Eric Liu
Heiman Lo
Juan Lorenzo
Tian Lu
Wayne Lu
James Lucas
Dennis Luebcke
Martin Luehrmann
John Lynch
Gina Lytle
Leo Ma*
Caesar Maasry
Geoff MacDonald
Robert Magnuson
Toshiyuki Makabe
Mariano Mallol
Geydar Mamedov
Kara Mangone
Donna Mansfield
Ajit Marathe
Gilberto Marcheggiano
James Marchese
Michael Marcus
Joshua Matheus
Ann Mathews
Chris Mathie
Brian McCallion
Graham McClelland
Anne McCosker
Michael Meehan (Compliance)
Taylor Mefford
Neil Mehta
Adam Meister
David Mericle
Vitali Meschoulam
Eric Meyers
Alex Mignotte
Andras Mikite
Christopher Milligan
Rahul Mistry
Mike Mitchell
Neil Moge
Waleed Mohsin
Babak Molavi
Joel Monson
Guy Morgan
James Morris
Antoine Munfa
Aimee Mungovan
Yuji Murata
Dan Murphy
Josh Murray
Brian Musto
Shehzad Nabi
Devarajan Nambakam
Ramanathan Narayanan
Ganapathy Natarajan
Danielle Natoli
Murad Nayal
Karim Nensi
Scott Neu
Dennis Ng
Ken Ng
Benjamin Ngan
Joy Nguyen
Salman Niaz
Anders Nielsen (IMD)
Howard Nifoussi
Jun Niki
Leah Nivison
Laura Noble
James Nolan
Lauren Oakes
Lynn Oberschmidt
Allison O'Connor
John O'Connor
Shunil Ohrie
Damian Ordish
Leke Osinubi
David Ossack
Sathiya Padmanaban
Danielle Pallin
Salvador Pareja
Dalmir Pasini
Clorinda Pasqua
Chris Pawson
Paris Pender
Patrick Perkins
Philippe Perzi
Wendy Peters
Andy Phillips
Flavio Picciotto
Michael Pieck
Sam Pirog
Thomas Plank
Joseph Plotkin
Wade Podlich
Ashish Pokharna
Caitlin Pollak
Charles Pollock
Joe Porter
Travis Potter
Rohit Prabhu
Richard Privorotsky
Andrew Pucher
Jay Rabinowitz
Ankit Raj
Harsha Rajamani
Dmitry Rakhlin
Yasser Rathore
Edoardo Rava
Elizabeth Reed
Alexandre Reinert
Stephen Reinhard
Irfan Rendeci
Christian Resch
Andrew Rhee
Riccardo Riboldi
James Rinsler
Caroline Riskey
Helen Robinson
Mark Rosen
Amit Roy
Joe Ryan
Bernhard Rzymelka
Takehiro Sakuramoto
John Sales
Rob Sarazen
Vineeta Saxena
Dominik Schaefer
Andrea Scott
Majid Sebti
Bipin Sehgal
Arseni Seregin
Irma Sgarz
Paulomi Shah
Shreyas Shah
Sunny Shah
Faisal Shamsee
Daniel Shapiro
Mahesh Sharma
Shripal Sharma
Mai Shin
Romy Shioda
Toshimichi Shirai
Mark Short
Pankauz Shrestha
David Shrimpton
Obaid Siddiqui
Mike Sidorov
Scott Silverglate
Stefani Silverstein
Amy Silverzweig
Jasdeep Singh
Gabriella Skirnick
Michael Sklow
Maxine Sleeper
Michael Slomienski
Michael Sloyer
Nicholas Smith (IBD)
Ruth Smithson
Christine Smyth
Ben Snider
Stacy Sonnenberg
Cleaver Sower
Ro Spaziani
Brian Steele
Johannes Steffens
Duncan Stewart
Stephen Stites
Laurent Storoni
Caroline Styant
Joel Sulkes
Mancy Sun
Winnie Tam
Nachiket Tamhane
Ken Tang
MK Tang
Amish Tanna
Melissa Teng
Ross Tennenbaum
Greg Thompson
Fiona Thomson
Justin Tobe
Jason Tofsky
Brad Tuthill
Masahiro Uchiyama
Nehal Udeshi
Saad Usmani
Meg Vaden
Pramod Vaidyanathan
Adam Van de Berghe
Fred van der Wyck
Suzanne van Staveren
Andrew Vass
Mahesh Vellanki
Kadambari Verma
Christopher Vilburn
Iva Vukina
Heng Vuong
Ketan Vyas
Joe Wall
Jeffrey Wang
Jiantao Wang
Joshua Wang
Lily Wang (Technology)
Sherry Wang
Victoria Ward (Compliance)
Jeff Warren
Noriko Watanabe
Ramey Watkins
Sam Watkins
Heiko Weber
Niki Webster
Scott Weinstein
Ryan Westmacott
James Westwood
Keith Wetzel
Mark Wetzel
James Whittingham
Sabine Wick
Robert Wieser
Devin Wilde
David Wilkins
John Wilkinson
Andrew Williams
Ed Wong (IBD Technology)
Eric Wong (Internal Audit)
Kate Wood
Amanda Wu
Douglas Wu
Joanne Xu
Liang Xu**
Rupam Yadav
Kazushi Yamaguchi
Hubert Yang
Lisa Yang
Basak Yavuz
Zeynep Yenel
David Yu
Brian Zakrocki
Thomas Zeppetella
Yi Zhang*
Adib Zouein
Patrik Zumstein
Piotr Zurawski
Jonathan Zwart

*Employee of Goldman Sachs Gao Hua Securities Company Limited
**Employee of Beijing Gao Hua Securities Company Limited

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Earlier this month, Morgan Stanley announced a new class of 153 managing directors.

The names of the newly promoted managing directors were released Monday.

Of the new promotions, nearly 100 came from the Institutional Securities, Investment Management, and Wealth Management divisions. Ninety-five of the new MDs work in the Americas; 38 in Europe, the Middle East, and Africa; and 20 in Asia.

The 153 promotions bests the 2017 tally of 140 and is just shy of the 156 the year before, according to a person familiar with the matter.

Here are the names:

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• Lucy Baldwin, a high-flying bank executive in London, is set to join Credit Suisse.
• The move comes after Business Insider reported on Baldwin's departure from Bank of America last week.

Lucy Baldwin, a high-flying bank executive in London, is set to join Credit Suisse, according to people familiar with the move.

The move comes after Business Insider reported on Baldwin's departure from Bank of America last week.

Baldwin, who was managing director in equities at Bank of America since 2015, will join Credit Suisse's London office in a leadership role in global equity sales.

A representative at Credit Suisse declined to comment. Baldwin could not be reached for comment. 

Read more: One of Wall Street's youngest female executives just left Bank of America in London

Baldwin, who was onForbes "30 Under 30" list for finance, was formerly at Goldman Sachs in London, becoming one of the firm's youngest MD at 28 years old.

Baldwin worked on the Equities Management Team at Bank of America, where, as she explained to University of Birmingham in 2015, the team comes "up with ideas, research content, then we're packaging that into actionable ideas that our end client can ultimately trade though us or, of course, through other banks in the City."

Business Insider also reported a spate of other departures at Bank of America last week.

SEE ALSO: One of Wall Street's youngest female executives just left Bank of America in London

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• Barclays is culling staff in its market division, sources tell Business Insider, mostly affecting those in credit.
• Barclays in April said there were "no plans for job cuts," and it told Business Insider this week that it was true at the time.
• Barclays culled 12 people in its US equities division this week, Bloomberg reported on Wednesday. 

A clutch of senior employees are being let go at Barclays this week in a new round of departures after a management overhaul earlier this year shocked employees.

Insiders say the London-based bank kicked off the round of cuts this week in global markets, a unit that includes credit, distribution, equities, and macro. It is unclear just how many are set to depart — with little communication from higher-ups, rumors are flying around trading floors that the bulk of the cuts will be concentrated on credit teams.

Bloomberg, citing unnamed people familiar, reported on Wednesday that the bank let go 12 in its US equities division, across research and the "high-touch" and electronic-trading units. "The cuts were made as part of a regular review of headcount across all businesses," Bloomberg cited one of the people as saying.

An insider told Business Insider that some managing directors have departed in both London and New York, the insiders said.

According to the insiders, Brett Tejpaul, a 16-year veteran of the bank who is the head of digital and client strategy in the markets unit New York, is among those leaving. He did not reply to requests for comment.

It's a departure from last month, when a Barclays spokesman told Business Insider "there are no plans for job cuts." Staff morale at Barclays has taken a beating, insiders say, after the shock departures of key executives earlier this year, including of the investment-banking chief Tim Throsby.

A Barclays spokesman declined to comment on the departures and said the comment made in April "was both true and accurate."

Read more:Barclays says there will be no job cuts, even as insiders brace for the worst and an activist ratchets up pressure to gut the investment bank

Staffers were jolted in late March by the surprise exit of Throsby, who was hired by CEO Jes Staley in 2017 from JPMorgan with ambitions to add more competitive vigor to Barclays' investment bank.

The exit of Throsby, who ramped up hiring of managing directors, was announced along with a wide swath of management changes. Dominoes are continuing to fall this week.

The bank is gearing up for a new global head of equities — Fater Belbachir, another JPMorgan alum, is due to start at Barclays next month.

Stephen Dainton is the head of global markets on an interim basis, and the bank has said it is seeking candidates for that role both internally and externally.

Have a tip about Barclays? Send to tkelley@businessinsider.com.

SEE ALSO: One burning question kept coming up on the Barclays earnings call — and it's a sign pressure is mounting on a high-stakes bet made by CEO Jes Staley

SEE ALSO: Ousted exec Tim Throsby sent an email to Barclays' CEO calling his plans 'irreconcilable' and destructive

SEE ALSO: Barclays just lost 2 more executives as Ravi Singh departs after only 4 months

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Morgan Stanley just named 171 new managing directors, the largest pool of promotions in recent years, a person familiar with the matter told Insider. 

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.

The 2021 class is substantially larger than last year's group of 130, which, amid cost cuts and layoffs, was among the smallest in years. The the bank promoted 145 managing directors in 2019.

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. 

Here are a few key characteristics of the new group:

• Forty-eight percent of the members come from the firm's institutional securities group, which houses its investment banking and sales and trading operations.
• Nine percent were from the investment management division.
• Thirteen percent come from wealth management and banks.
• The remaining 30% came from the infrastructure group.
• 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.
• 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.
• 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.
• Forty-three percent of members of the class hold advanced degrees.

Morgan Stanley isn't the only firm to induct a crop of new promotions to its most senior designations in recent weeks.

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).

And Citigroup followed in December, announcing 153 new managing directors for its latest MD class.

SEE ALSO: Goldman Sachs just dropped the banmes of its 2020 partner class, and it's a big day for investment bankers in TMT

SEE ALSO: 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.

SEE ALSO: 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

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Here's a rundown of hires, exits, and promotions from the past week.  Are we missing anyone? Let us know.

• Morgan Stanley promoted Rachel Russell, a longtime star in the firm's credit division, to run the bank's CLO new issue business in North America, according to an internal memo viewed by Insider. Russell joined the firm in 2004 and previously ran CLO, ABS, and RMBS syndication.
• After months of high-profile departures, Credit Suisse is continuing to rebuild itself with a handful of high-level hires:
  • Orazio Tarda is joining as a managing director and the global co-head of fintech, according to an internal memo sent August 2 and reviewed by Insider. Reuters was the first to report the news. Tarda, who previously spent 16 years at HSBC and was most recently the global head of fintech investment banking, will start at Credit Suisse in November and report to Giuseppe Monarchi, co-head for telecom media and tech for EMEA, and Brian Gudofsky, global head of technology investment banking. 
  • Aly Alibhai is joining the firm from Citi to head up the global media and entertainment mergers and acquisitions group, according to an internal memo sent on August 3 and reviewed by Insider. Reuters first reported the news. Alibhali, who was at Citi for 16 years and whose recent clients include Fox, Sony and Warner Music Group, will start at Credit Suisse on August 9, be based in New York, and  will also report to Giuseppe Monarchi.
  • Chris Johnson, who is known on Wall Street as "Whopper," resigned from Wells Fargo to run program trading sales, Insider reported August 4. His hire fills the void left byJason Vickery, who left earlier this summer to run program trading for Mizuho. Johnson had previously been at Wells Fargo for a decade and ran equity program trading sales.
• Jimi Larkins, a managing director at Bank of America, resigned in May to join JPMorgan, he announced Tuesday on LinkedIn. Larkins, who focuses on the insurance and insurtech industries, will officially join JPMorgan in three months after completing garden leave, he said. 
• SVB Leerink saw both key hires and a notable departure this week.
  • The bank hired Mairin C. Rooney for its biopharma investment banking franchise from Goldman Sachs, where she served as managing director in the healthcare investment banking group focused on biopharma and biotech clients, it announced Monday.
  • Citi vice president Roger Salazar Jr. is joining the firm as a managing director and head of SPACs, Bloomberg reported Wednesday. Salazar, who will join the firm later this month in New York and report to global co-head of healthcare investment banking Dan Dubin, according to the report. 
  • Jim Ratigan, the bank's former head of M&A, left SVB Leerink to join Rockefeller Capital Management as a managing partner in its strategic advisory practice, per a press release. 
• Healthcare and telemedicine platform Zocdocannounced the appointment of Edward Liu as its chief financial officer this week. Liu comes to Zocdoc from Morgan Stanley, where he was head of Americas Technology Banking. 
• Point72 Asset Management poached star credit trader Leon Hagouel from JPMorgan to be a macro portfolio manager, Insider reported Wednesday. Hagouel, who had been at JPMorgan since 2006 and was an executive director in the fixed-income trading division, will start working at Steven Cohen's $22 billion hedge fund in October, sources told insider. 
• JPMorgan Wealth Management has hired Matt Wilson, who previously led E-Trade's advisor services, Barron's first reported. Wilson will oversee Chase branch-based advisors in eight states including Ohio, Michigan, and Texas as a divisional director. He starts with JPMorgan on August 30, according to the report, which the bank confirmed to Insider.
• Asad Zafar was a part of an energy-focused equities team at hedge fund Citadel, and considered launching his own fund, but is instead joining commodities trading firm Vitol as a portfolio manager. He will focus on mobility and industrials stocks, such as airlines, ride-sharing apps, car companies, and more, he confirmed to Insider.

Meredith Mazzilli, Michelle Abrego, Alex Morrell, Rebecca Ungarino, and Bradley Saacks contributed to this report.

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