Lehman orders dress up code

The Lehman Brothers, the U.S. investment bank that implemented a casual dress code during the dot-com boom, is smartening up its act.

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In an internal e-mail they indicated that employees should replace their casual clothing with a suit and tie with effect from March 11.

"Business dress for men is a suit and tie, and for women, a suit with either a skirt or trousers, a dress, or other equivalent attire," said the message that was distributed to Lehman offices worldwide.

"Since the firm instituted its flexible dress policy, much has occurred, including some changes and rethinking regarding work environments.

"In addition, as Lehman Brothers has grown over the past few years the amount of client contact at the firm has increased significantly and should continue to do so," said the memo.