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This question is about managing director.
No, you do not need an MBA to be a managing director. However, it is highly recommended and may be required for some corporations. The title "Managing Director" is used for different roles.
The managing director can refer to an executive-level management role. It takes at least a decade to manage teams and business strategies with a proven track record. Or this role can refer to investment banking and managing investment accounts.
Either role requires a strong business background, and an MBA or master's degree in finance, accounting, or a related field can help. Both roles also involve networking and excellent communication working with inside and outside partnerships.

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