As it wrestles with the likes of Apple and Google for the top tech talent, Goldman Sachs is relaxing its dress code for computer engineers.
In a memo seen by Reuters, the bank's new CIO Elisha Wiesel has told thousands of technology and engineering staffers that they can now enjoy a "year-round casual dress code".
Although the memo does not provide sartorial guidelines, the hoodie-and-jeans combo beloved in Silicon Valley should be allowed, with a source tells the FT that "totally casual" clothing is in.
However, Wiesel does warn: "Please exercise judgment in determining when to adapt to business attire as circumstances dictate, particularly if you have a client meeting."
Last year Goldman rival JPMorgan Chase loosened its dress code after CEO Jamie Dimon took a trip to Silicon Valley to meet counterparts at tech titans.
But achieving the correct balance between professionalism and startup relaxation can prove tricky for the old-fashioned banking sector. In 2015 Barclays boss John McFarlane decided to clamp down on t-shirts and flip-flops at the firm's Canary Wharf HQ over fears of offending high-profile guests.