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 If you hadn't already figured it out for yourself, The New York Times is here to declare that dressing like a banker is out, and dressing like a rock star is in.
"The banker suit is definitely dead," investment banker Euan Rellie told The New York Times. Market uncertainty put the nail in the coffin of the traditional suit. Said Rellie: "You used to wear a uniform to work because you wanted to give yourself a certain authority, but that doesn't necessarily convey that now. I was in a meeting the other day with five people, and they were all dressed entirely different. And because there isn't a dress code, you have to think about what you wear." "That stodgy look is kind of dead," said Eric Blumencranz, an insurance broker interviewed for the same story. "I used to wear a plain white shirt. Now I'm wearing stripes and checks, and ties that are a little more fun, too." But don't make the mistake of thinking we're going back to the just-rolled-out-of-bed look of the dot-com bubble. "It's got to be professional, with a little style to it," said Blumencranz. "You can't come in in an old polo shirt and ripped jeans." Fashion mags, such as GQ, have been hip to the trend for awhile, natch. "Of course! During the boom, everyone and their mother was a stylist," says a recent New York Magazine story. "So it makes perfect logical sense for the recession to give rise to the noncareer of unstyling." Back in March, bankers in London were advised to avoid looking like bankers during the protests of the G20 Summit, according to The Telegraph. "The Metropolitan Police -- long celebrated for its sartorial expertise -- is advising bankers to dress down when the G20 summit comes to the City of London next week to avoid the attentions of protesters. So that means no suits for you, sir. Yet the off-duty banker uniform of chinos, pink shirt, cord blazer and brogues -- think Prince Harry stumbling out of Boujis or Hugh Grant in Notting Hill -- is recognisable at 20 well-shod paces. So what to wear?" In fact J.P. Morgan Chase & Co. (NYSE:JPM) told employees that week to wear jeans to work, according to CNN. " 'Staff are permitted to wear casual clothing -- jeans/trainers -- commencing March 30. Avoid briefcases/branded bags/computer cases: Put materials in rucksacks or carrier bags where possible,' U.S. bank, J.P. Morgan told employees in an email statement last week quoted on City news Web site Hereisthecity.com." What was it with the suit and tie on Wall Street? It was a professionalism, custom suits and, above all, pride. All of the layoffs, Ponzi schemes and bad banker publicity have taken their toll on those Master-of-the-Universe egos, and the banking industry isn't as proud as it once was.So what to wear? Bankers who want to travel incognito might consider Zazzle's anti-banker clothing line. But take some tips from About.com: Be neat and clean, not sloppy. Best of all: GQ says it's chic to look frugal these days, so don't worry about wearing the same jacket several days in a row -- as long as you mix it up with chinos and a tie one day and a T-shirt and jeans the next. - Maria Woehr
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