Outstanding Alumni Award 2025: Penny Novick ’94

Bio

Penny Novick is a managing director at Morgan Stanley within the Institutional Equity Division (“IED”) as the Global Co-Head of Prime Brokerage and is a senior member of the management team serving within the Equity Operating Committee. Prior to this role, Penny served as the global head of futures and derivatives clearing and prior to that the global chief operating officer for Prime Brokerage. She has been with the firm since 2000, in VP and executive director roles in the Business Improvement Group and subsequently in the PB Multi-Asset Class team.

Penny serves on various MS committees including former seven-year chair of the Women’s Business Alliance, former 15-year IED Cornell recruiting co-captain and active member of two Diversity Councils. Additionally, she has been an active member of three Cornell University advisory councils for several years and is serving her second term on the Managed Funds Association’s Board.

Penny is in her second term on the board of directors for Rock the Street, Wall Street, a non-profit organization that empowers high school and university women by bringing the M in STEM to life through focus on financial and investment fundamentals.

Prior to joining Morgan Stanley, Penny was at PriceWaterhouseCoopers where she was a principal consultant in the Risk Management Consulting practice having transferred from the Capital Markets Audit practice.

Penny holds a BS from Cornell University, graduating with distinction and an MBA from NYU Stern School of Business. She also holds a CPA license with the State of New York (inactive status).