Goldman Sachs courts young talent with a more casual dress code

The investment bank, known for its buttoned-up image, is relaxing its dress code to attract Generations Y and Z. Will an updated brand persona fly with older, established clients?

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Goldman Sachs is making a major change to its branding: Employees can now wear khakis.

The titan of Wall Street has long been known for suits and ties, enforcing a strict dress code across its many offices. However, the company had started to relax the dress code in its tech division to attract young programmers and stay competitive with workplaces like Facebook and Google.

Now the company is rolling out changes across the board.

Reuters reported:

Historically known as a white-shoe investment bank, Goldman Sachs traditionally required formal business attire. But since 2017, the bank began relaxing its dress code for employees in the technology division and other new digital businesses. This created a divide in the workforce as clear as denim versus pinstripes.

Like other Wall Street banks, Goldman has been competing to secure the best employees. Large technology firms and hedge funds often have more relaxed offices and perks.

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