For years, investment banks in the City were primarily staffed by employees from privileged backgrounds. But as firms have faced growing criticism over nepotism and elitism, there’s a new type of recruit that is being favoured above others — the “aggressively middle class” banker.

Investment banks and other City firms have largely failed to make significant inroads on class disparity in the UK, with those from higher socioeconomic backgrounds still occupying over 50% of senior positions in the financial sector, according to 2023 research by Progress Together.