City staff told to pull their socks up

First the dotcom boom went bust, now its laid-back style has gone out of fashion in the City. Staff at Deutsche Bank have been told to smarten up after some of them began appearing at work in distressed denim, figure-hugging T-shirts and trainers.

While the traditional dress-down Friday will continue, blue denim, sports clothes, crop-tops, T-shirts and baggy clothes will be banned. Clubbing gear will be strictly out of favour and for good measure, shirts will have to be tucked in. In line with the growth of e-commerce, City firms had relaxed their insistence on stiff collars, pinstripes and ties.

But Deutsche's chief operating manager Mark Ferron fears things have gone too far. In a memo Mr Ferron said "casual business dress" has been taken to extremes and employees should rebuild their "business wardrobes". He added: "We feel there has been a significant shift in sentiment over the past 18 months among our clients regarding dress code."

Mr Ferron warned that should staff fail to pull their socks up even dress-down Fridays would be ditched and formal business suits would have to be worn all week. From 3 September all "front office" staff will need to wear "appropriate business attire" from Monday to Thursday - suits, or jacket and tie for men - while in the office or at client meetings. Any banker liable to be called to an urgent client meeting at the end of the week should keep a suit in the office.

By way of encouragement Mr Ferron reminded staff they are eligible for discounts at a number of retailers.

As a no doubt be-suited spokesman for Deutsche Bank said: "We are a global investment bank, not a sixth form college."