She is not a “managing director.” She is currently head of the Southwest Region in the Investment Management Division of Goldman, Sachs & Co. I was a district manager of a company and no one ever referred to me as a “managing director” that I recall.
It depends.. There’s often a difference between position and title.
I worked for a Big-8 accounting/consulting company that went public. All the “Partners” were retitled “Managing Directors” (a title change) while their position names remained the same.