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Wednesday, June 22, 2016

BlackRock In Blue Jeans

News summary by MFWire's editors

Larry Fink is easing up a bit on BlackRock's [profile] dress code, though maybe not for himself.

Larry Fink
Chairman and CEO
Sarah Krouse of the Wall Street Journal reports that, per unnamed sources, yesterday the world's largest asset manager told employees that they can now wear jeans, a shift from the business-casual dress code BlackRock has used since the 1990s.

Yet, unsurprisingly, there are exceptions, so don't expect to see swarms of jean-clad BlackRock executives at the next industry conference.

"[T]op BlackRock executives and those meeting with clients still have to dress for the occasion, depending on their location and function," the WSJ reports.

The WSJ portrays the shift as part of Wall Street's "tussles for talent with technology firms known for less buttoned-up work environments" and as intended to appeal to Millennials.

BlackRock's shift comes two weeks after another Wall Street giant, J.P. Morgan, loosened its dress code, too. Yet Jamie Dimon isn't going as far as Fink; J.P. Morgan is shifting down to business casual. 

Edited by: Neil Anderson, Managing Editor

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