Deutsche Bank bosses decide suits suit suits

Poor old Deutsche Bankers. Tailors from Saville Row to Shenzhen will be sewing themselves into a frenzy after an edict from Deutsche Bank chief operating officer Mark Ferron comes into effect today.

The bank's 3,000 global markets employees received an e-mail recently describing a 'significant shift in sentiment over the past 18 months among our clients regarding the dress code'. And besides, their competitors had already beaten them out of the chinos and into suits.

However, 'casual business attire' would be allowed on Fridays, after ruling out a list of weekend-style clobber including 'midriff and tank tops' and 'clubbing attire', which made us think the London office was probably a little bit more interesting to be around than the Hong Kong one.

JP Morgan confirmed the trend, saying: 'Officially, we are 'smart casual', but unofficially we are definitely moving back to formal in view of the business climate today.'

Morgan Stanley refuted a rumour they were leading a charge back to pinstripes on grounds that productivity had suffered without it.

'But most people have worn formal business attire for the last year,' sniffed their head of corporate affairs, in a tone which suggested he had always worn a bowler while the other chaps wore baseball caps. One banker from another big international firm confirmed he had received two e-mails warning 'look smart or we will go back to suits'. Not that he was mourning the death rattle of the dotcom look.