How the Fleece Vest Made Its Way from the Forest to the World of Finance

The Fleece Vest's Style Evolution

The fleece vest has undergone an interesting style and class transformation. Once solely associated with chilly hikes and a burnt hot dog by the campfire, today it is just as common in a Wall Street meeting room as it is by the chopping block in the countryside. But how did this functional outdoor garment find its way into the heart of the financial world?

Just as banks and law firms have long been dominated by suits, business shirts, ties, and Oxford shoes, the stock market and investment firms have developed their own distinct uniform. 

There are various theories about how the fleece vest entered the finance industry. One popular anecdote suggests that "someone" in an office came up with the idea of lowering the temperature to boost productivity, leading frozen employees to adopt vests to keep warm. Another theory is that fleece and down vests first gained popularity in the tech industry, where cold server rooms required warmer clothing. Yet another aspect is that fashion became more relaxed during the financial crisis in the 2000's, shifting from formal suits to a more casual dress code. The impact of COVID-19 and remote work likely further contributed to a more comfortable office standard. These factors collectively fuelled the rise of the finance bro style in the 2020s.

The Importance of Belonging in the Financial World

Dressing according to the finance bro style code is not just about comfort or keeping warm, it's also about fitting in. It's about signalling a sense of belonging, avoiding standing out, and ensuring one doesn't "overdo it" with a pinstripe suit if one is "just an ordinary equity analyst" (as a friend working in finance put it). 

Below we outline the signature garments typically worn by these so-called "finance bros". We also provide our own take on which garments to wear, with an extra focus on quality and timelessness.

The defining feature is, of course, the warm and practical vest in down, fleece, or wool, from brands such as Patagonia, Loro Piana, Arc'teryx, The North Face, or possibly another corporate-branded merchandise variant.

Many might scoff at the idea of wearing a fleece vest to work, but there is undoubtedly a strong element of comfort that appeals to many. Opt for an exclusive merino wool vest, a thin down vest that is both functional and sophisticated (without logos) for a cleaner look, or Patagonia's fleece vest to fully embrace the finance bro style.

A key element of the finance bro look is a pair of stretch chinos with a low waist, typically in navy or beige.

For a more refined style, take inspiration from classic 1940s and 1950s tailoring for trousers, with pressed creases and front pleats. Choose a navy pair for a sophisticated feel or beige for a stronger finance bro aesthetic. Alternatively, opt for high-quality wool suit trousers, preferably high-waisted and with a wider cut, for a more elegant alternative to chinos.

Finance bros love their striped or gingham-checked shirts from brands such as Charles Tyrwhitt or Brooks Brothers. These are often in light blue or light red, neatly tucked in and crisply ironed.

Choose a neutral shirt in solid Oxford cotton in white, light blue, or light blue with stripes and a button-down collar for more of a classic, understated take. Or go for a dress shirt with a cut away collar and tie for a more formal appearance.

Many finance bros opt for the comfort of running shoes from brands such as Hoka, ON, or Allbirds which is great for those who prefer speed and ease. 

For a more polished look, handcrafted shoes are the way to go. Preferably from established shoemakers such as Edward Green or Crockett & Jones. A pair of handmade leather shoes with Goodyear-welted construction in dark brown or black leather elevates the overall outfit to a whole new level. Invest in quality shoes – they last longer and only get better with time. 

In banking and finance, dress codes have historically been strictly formal, with the suit and tie serving as a symbol of professionalism and credibility. While dress norms have softened in recent years, particularly in tech-influenced parts of the industry, the tie remains an important marker for formal meetings and client presentations.

A true finance bro wears a smartwatch to keep track of the stock market without having to pull their phone out of their pocket. Alternatively, a Rolex is a more "conservative" choice of timepiece.

Forget everything called a leather briefcase. Here, practicality is key. Either a messenger bag in true consultant spirit or an even more practical on-the-go bag in the form of a backpack.

To maintain the right level of caffeine for energy-demanding business meetings, it's not uncommon to see finance bros with a takeaway coffee cup in hand. If the fleece vest has made it all the way from the forest to Wall Street, perhaps even the traditional camping mug will follow one day?