# Gucci Loafers on Wall Street



## BamaCPA (Jan 19, 2008)

Gentlemen,

I know it isn't 100% sartorially correct to wear loafers with a business suit - I don't wear them any ways (AE's for me)- but I've always heard that Wall Street investment bankers have been wearing Gucci Loafers since the mid 80's and some continue to do so.

For those of you that work on Wall Street or actually practice this yourself, can you provide me with some link or pictoral evidence as to the type of Gucci Loafers that would be common place? I know it's strange, but for Fridays, I wouldn't mind copying some of those guys here in Birmingham. 

Thank you in advance.


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## Henry346 (Oct 31, 2009)

Not really pictoral evidence, but I was down on Wall St. just today and saw two pairs of Gucci bit loafers. Both were black--they completed the conservative look while screaming decadence and wealth. And are a lot easier to show off than a nice suit to the proletariat.


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## BamaCPA (Jan 19, 2008)

Soemthing like this?


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## harvey_birdman (Mar 10, 2008)

What ostentatious garbage.


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## phyrpowr (Aug 30, 2009)

The black Gucci horsebit loafers have been "accepted" business footwear for a long time, not just in NYC....and not by me


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## Francisco D'Anconia (Apr 18, 2007)

*Horse Bit Loafers*

I'd try to respond, but I don't think anyone could say it better than Manton said it in *The Suit*:And although loafers with metal decorations have gained wide acceptance in our time, the only metal a dandy will allow to interrupt the sublime visage of polished leather is the buckle of a monk-strap​


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## hsw (Dec 23, 2009)

Guys in investment banking, private equity and hedge funds have almost exclusively worn black loafers since ?mid-'80s...but I don't recall ever seeing anyone notable in financial industry wearing Gucci loafers

See a lot of fairly nondescript Ferragamo or Alden or Lobb blk loafers in finance industry in NYC/CT/CA

Of those who still wear ties to office (hedgies usually don't), Charvet seems rather popular; Hermes dominated back in '80s and most of '90s

There are many pics online of ~65yo PE billionaires like Kravis wearing blk loafers w/suits back in '80s...and a recent Business Wk cover story on KKR shows him wearing ?Lobb blk loafers w/suit and tie (forgot if it was Hermes or Charvet tie, but IIRC he and many KKR partners got their MTM suits at AscotChang which was next-door to their 9 W57 St Manhattan offices for many yrs)


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## BamaCPA (Jan 19, 2008)

Francisco, 

Can you provide me a link with an example of said shoes? I'm not familiar with that type of description. 

HSW - thanks for the info as well.


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## anglophile23 (Jan 25, 2007)

A friend of my father wears brown Alden bit loafers, they look very nice. I also suspect he might have a more trad style than NY (w)bankers.


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## eagle2250 (Mar 24, 2006)

Francisco D'Anconia said:


> I'd try to respond, but I don't think anyone could say it better than Manton said it in *The Suit*:And although loafers with metal decorations have gained wide acceptance in our time, the only metal a dandy will allow to interrupt the sublime visage of polished leather is the buckle of a monk-strap​


LOL, well what can one say? In this instance, Manton was just...well, wrong! (collective gasp!)


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## PatentLawyerNYC (Sep 21, 2007)

Henry346 said:


> Not really pictoral evidence, but I was down on Wall St. just today and saw two pairs of Gucci bit loafers. Both were black--they completed the conservative look while screaming decadence and wealth. And are a lot easier to show off than a nice suit to the proletariat.


_Gucci_ screams decadence and wealth in _NYC_? Jeez, where have our standards gone? Young associates in my office wear them; they probably bought them with their first pay check.....


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## StephenRG (Apr 7, 2005)

Expensive loafers were in fashion as long as I can remember - the first time I encountered the ox-blood tasselled loafer was at Goldman in the 80s and they were so common as to be almost part of the uniform. (Grey sack suit, white or blue BB shirt with spinnaker back, red or yellow power tie). However, they tended to be American-made, not Gucci.

At Morgan Stanley, Ferragamo was more popular. (FWIW it sometimes seemed as if Ferragamo was the official supplier of flats to the women there.)

As one of the few posters here who still _physically_ works on Wall Street, I can say that relatively few people wear anything which even rises to the level of a Gucci loafer - and if they do, it probably hasn't been polished anyway.

If while you're on Wall Street you see someone otherwise well-dressed but not wearing a tie - he's probably from Deutsche Bank.


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## The Louche (Jan 30, 2008)

I have a very good friend who is a VP at JPMChase. I have asked him this exact question before. At first his response was "What the f*** is a bit loafer?" Then I showed him a picture of the Tom Ford-era update to the classic Gucci bit loafer (the one with a "high" heel). He instantly recognized it and said "Yes, those are very common." And black is de facto for any footwear on Wall Street.


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## Andy (Aug 25, 2002)

*Gucci Loafer* - introduced in 1957 with distinctive gold-metal harness bit hardware decoration across vamp, a tribute to Gucci's start in the leather harness business.


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## Penang Lawyer (May 27, 2008)

A fellow employee who was born and raised in England always wore the Gucci loafers. And that was more tha 49 years ago.


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## Henry346 (Oct 31, 2009)

PatentLawyerNYC said:


> _Gucci_ screams decadence and wealth in _NYC_? Jeez, where have our standards gone? Young associates in my office wear them; they probably bought them with their first pay check.....


Those items that scream decadence and wealth (unless its a purple label snake skin purse) generally aren't symbols of decadence and wealth. Chances are your average janitor won't know the difference between your nautica tie and hermes, but he'll be able to see your Gucci and admire the shine. Although I do like the Gucci horsebit loafers...


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## PatentLawyerNYC (Sep 21, 2007)

Henry346 said:


> Those items that scream decadence and wealth (unless its a purple label snake skin purse) generally aren't symbols of decadence and wealth. Chances are your average janitor won't know the difference between your nautica tie and hermes, but he'll be able to see your Gucci and admire the shine. Although I do like the Gucci horsebit loafers...


Funny story on this point: A year or two ago, an IT guy came into my office to fix something on my PC. I had my Panerai sitting on my desk because the thing is too damn clunky to wear while typing. The IT guy looked at the watch and said "Hey, is that an Invicta?" I replied, "No, it is a Panerai." He responded, "Oh well, maybe with your next bonus you can swing an Invicta." I responded "Perhaps," and spent the rest of my afternoon confused.


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## Sean1982 (Sep 7, 2009)

Andy said:


> *Gucci Loafer* - introduced in 1957 with distinctive gold-metal harness bit hardware decoration across vamp, a tribute to Gucci's start in the leather harness business.


Is it me, or are these things vile? I could never put a loafer on my foot. It's nearly as ugly as a boat shoe, but at least they have a use (on boats)


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## Cavalry Twill (Feb 16, 2009)

*Dissenting opinion*

Okay, I guess I'll rise to the bait here. I think the traditional Gucci loafer is really good looking. I don't work on Wall Street, and I can't afford $500 shoes that seem not-so-sturdy. But, still, I think the traditional horse bit loafer from Gucci (or Alden) is very handsome. I wouldn't wear it with a suit. But with a cashmere sweater and jeans, or with a blazer and flannels, they look very stylish and elegant.


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## BamaCPA (Jan 19, 2008)

Andy...I like those but this is the closest thing I can find on the Gucci site. Is this the same shoe?


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## Henry346 (Oct 31, 2009)

Sean1982 said:


> Is it me, or are these things vile? I could never put a loafer on my foot. It's nearly as ugly as a boat shoe, but at least they have a use (on boats)


Something's wrong with me, but as a Northeastern American, I find both stunningly attractive. Boat shoes are used 3 seasons of the year to much complimenting. And quite a few of my trust fund friends' fathers swear by those Gucci's. A few even know a thing or two about style. I had the fortune of witnessing one on his Nantucket beachfront House in a seersucker jacket, OCBD, nantucket red shorts, and sperry's. It was some sight.


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## The Louche (Jan 30, 2008)

Batey28 said:


> Andy...I like those but this is the closest thing I can find on the Gucci site. Is this the same shoe?


This is the modern version. Tom Ford ran gucci from about 1995-2007 (don't quote me on this, its approximate). He saw the bit loafer as one of Gucci's iconic pieces and issued a slight update, which is what you have pictured above. This model has a slightly more boxy toe and a higher heel. It is a perenial best seller. Hate it or love it, most industry folks would tell you it is a classic.


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## BamaCPA (Jan 19, 2008)

I have been looking at something like this for quite some time and I think I'm going to finally pull the trigger. Thanks for all the input guys.


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## Hanzo (Sep 9, 2009)

I think that StephenRG makes the best point. It has to do with locale primarily rather than career. I do not physically work on Wall St, nor in NYC, but I work for an investment firm in the midwest. I don't know that I've ever seen a pair of those here. The dress standards here are pretty relaxed (business casual) and I do occasionally see loafers, but nothing like that. Instead, they're more of the tasseled, possibly ox-blood variety.


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## ostpl (Jan 8, 2010)

Both of my cousins were specialists on Wall st. (when a human performed the job of market maker) and Gucci loafers were standard issue attire for both of them, along with Hermes ties.


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## dwebber18 (Jun 5, 2008)

While working for Fidelity Investments in Florida, the majority of footwear were loafers, boat shoes or square toead "dress" shoes. Granted a few of us put on sport coats or atleast an OCBD and wore proper shoes. Now that I live in Knoxville and work at an independant broker dealer the shoe of choice is the above mentioned square shoes or tennis shoes. I would imagine though that an upstart at a brokerage firm in NYC may think that Gucci loafers are a symbol or making it only to find out that he has wasted his money and the guys that have made it probably know better than an ostentatious loafer like that.


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## BamaCPA (Jan 19, 2008)

I deal with clients, lawyers and bankers that expect a certain level of dress. To tell you the truth, I expect my junior associates and other business contacts to at least be professional enough to not wear tennis shoes in a business environment. I'm sure that could put me in the old fashioned market for a 30 year old, but it still delivers a sense of professionalism. Even if wearing jeans, loafers such as these could be a nice touch, IMO.


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## 3holic (Mar 6, 2008)

I wore black Gucci Loafers with business suits back in the 80s while I worked in finance in San Francisco. Didn't know, and frankly didn't care, whether that was acceptable or not, as I have always been somewhat of a rule-breaker.


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## gnatty8 (Nov 7, 2006)

dwebber18 said:


> While working for Fidelity Investments in Florida, the majority of footwear were loafers, boat shoes or square toead "dress" shoes. Granted a few of us put on sport coats or atleast an OCBD and wore proper shoes. Now that I live in Knoxville and work at an independant broker dealer the shoe of choice is the above mentioned square shoes or tennis shoes. I would imagine though that an upstart at a brokerage firm in NYC may think that Gucci loafers are a symbol or making it only to find out that he has wasted his money and the guys that have made it probably know better than an ostentatious loafer like that.





Batey28 said:


> I deal with clients, lawyers and bankers that expect a certain level of dress. To tell you the truth, I expect my junior associates and other business contacts to at least be professional enough to not wear tennis shoes in a business environment. I'm sure that could put me in the old fashioned market for a 30 year old, but it still delivers a sense of professionalism. Even if wearing jeans, loafers such as these could be a nice touch, IMO.


I agree with you, if I went to meet with my money manager and he was wearing tennis shoes, I'd be a little taken aback, and I don't consider myself old fashioned either. I assume he means people who don't deal directly with clients in which case, I could care less if they wear tennis shoes, gucci loafers, or snowshoes..



3holic said:


> I wore black Gucci Loafers with business suits back in the 80s while I worked in finance in San Francisco. Didn't know, and frankly didn't care, whether that was acceptable or not, as I have always been somewhat of a rule-breaker.


I would probably not chalk this one up as a rule broken, seems pretty mainstream to me.. lol


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## Doctor Damage (Feb 18, 2005)

For what it's worth, the only people I see wearing bit loafers on Bay Street are older men in suits, most of whom I suspect are not working in the big firms anymore but are outside consultants or suburban investment advisors visiting the city for a few meetings. These guys always seem to be wearing Cole Haans or AEs.

I've seen only two men wearing bit loafers under the age of 55. One 40-ish man I saw wearing bit loafers just before Christmas: black pants, black socks, tan covert coat, schoolboy scarf, and the Gucci 015938 loafers. He looked good, but it was the cut of his clothes which took him to a high level of style (and the shoes seemed appropriate). One 35-ish man I saw on another occasion was wearing a Barbour with the lug sole Guccis. The toes were scraped to hell, though (shoe cream is cheap, dude). The last time I was in NYC, before my passport expired, I saw a 35-ish man wearing black pants with the black suede Gucci lug soles. Looked good.


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