A couple of years ago, wearing a suit and tie marked you as a stick-in-the-mud. It might mean you were caught in the past and didn’t get the new economy.
And if there was one thing bankers didn’t want to be suspected of during the bull market, it was not understanding the new economy. Out went the suit, in came business casual.
Most investment banks relaxed dress codes. Most still allow employees to dress down, insisting on suits when they go to meet clients.
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