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Investment Banking

For investment bankers, class is still an issue

Law firms and accountants are changing the way they hire to find candidates from disadvantaged backgrounds. Why are investment banks not doing the same?

A step too far: The Social Mobility Commission has used the term 'brown shoes effect' to describe a subtle form of discrimination
A step too far: The Social Mobility Commission has used the term 'brown shoes effect' to describe a subtle form of discrimination Photo: Johnathan Glenn / Alamy

Two years ago, recruiter Julie Hutchinson put on a special training session for her candidates, arranging for a voice coach to give them lessons on elocution and disguising their east London accents.

“It was to do with pronunciation and the way the tongue moves in order to pronounce certain letters, so pretty ‘My Fair Lady,’” she said.

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