You don’t have to manage people to be a managing director. Most of the time, MDs do manage people, but there are quite a few that don’t (and that happens in other banks too).
P6 default title is Executive Director, but it is eligible for the MD title. You’re either nominated for it (if you’re an internal) or you can negotiate the title during the hiring process
These “managing directors” don’t even have direct reports. This bank inflates titles like no other.
I have rarely seen promotion to P6. I have seen lateral M4 moved to P6 due to spans and layers. Possibly they retain the Managing Director title from that
The "Principals" I run across are P6 and all are MDs.
@b1 I am one.
And no, we're not managing directors. You are a MANAGER first to be a managing director.
Never met a P6
Yes