Investment banks return to formal dress codes

Lehman Brothers, the US investment bank, has announced that staff should stop dressing down, and return to wearing formal clothing at work.

In a memo sent out to all staff, the bank defined formal wear as a suit and tie for men, and a "suit with either a skirt or trousers, or dress" for women.

Credit Suisse First Boston and Goldman Sachs have also recently smartened up their dress code, and this change in policy could set a precedent for the rest of the industry.

As we report in an in-depth feature, the crucial thing for employers to note is that whether their workers dress smart or casual, a dress code should still be in place to help prevent discrimination and harassment claims, and even breaches of human rights legislation.
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