Bankers told to leave the suit in the wardrobe

IT used to be the essential banker’s uniform. But it appears the traditional business suit has officially had its day.

JP Morgan Chase, one of the world’s biggest banks, has told staff to ditch formalwear in favour of ‘business casual’ dress.

In an internal memo, bankers were told that a polo shirt or casual sweater above ordinary trousers will do on most occasions. And women were welcome to wear capri trousers, casual tops and dresses or skirts of ‘appropriate length’.

It read: ‘This reflects how the way we work is changing. More clients are dressing informally and many parts of our company are already business casual.

‘And while it may not be possible to dress business casual at all times or in all areas, we believe having a firm-wide guideline is the right thing to do.’

Jeans are still banned, as are flip flops, jumpsuits and yoga pants.

The memo, seen by the Times, also said tight, revealing and exceptionally loose or low cut clothing were unacceptable.

‘Business casual is not weekend casual,’ it advised, ‘and if you’re seeking a client you should dress for that client.’

It is believed Jamie Dimon, the bank’s chief executive, has been influenced by a recent trip to US technology hub Silicon Valley, where bosses promote informality.

Facebook founder Mark Zuckerberg wears a grey T-shirt every day to avoid wasting brain energy deciding what to wear. He has said: ‘I really want to clear my life so that I have to make as few decisions as possible about anything except how to best serve this community.’