Banks where wearing suits are/aren't acceptable?

I genuinely love suits and ties. I heard from 2 interns at 2 NYC banks (BB and UMM) that some banks no longer appreciate people wearing suits and ties, and sort of ostracize bankers who wear them. It's cruel. They sort of expect everyone to just wear shirts and khakis, like in tech. Thoughts?

Edit: This is specific to IB culture.

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Visited a boutique recently and I don't recall seeing any of the junior bankers (An --> VP) in a full-on suit.

Mostly business casual. Patagonia vests, button down shirts / dress pants with no jacket or tie. 

I'm sure they keep ties and jackets at their cubicles whenever they're going into meetings / clients visiting the office.

 

Apparently a ton of banks in Los Angeles. I was in the New York office where most people would at least wear a white button-down with slacks. Maybe 20% wore the blazer as well, myself included (though probably 40% would come in and leave with a blazer but not wear it while working). I was on a call with our LA team, and the most formally dressed person had just a polo shirt. The MD said something like "you would be laughed at for wearing a suit in Los Angeles." He wasn't being a dick or anything though when he said that, just joking around. 

 

Same thing in CHI--interviewed there once and most of my interviewers were wearing quarter zips 

 

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