Last week David Solomon, the chief executive of Goldman Sachs, told staff they could drop the suit and tie. It set off a cavalcade of coverage globally with headlines like “Goldman Sachs allows bankers to trade suits for khakis” and “Are dressed-down bankers a sign that an economic crash is looming?”

During a drinks event at the investment bank last week, insiders told Financial News they were surprised by the interest the memo had generated. It was just a dress code after all, why all the fuss?