designating or characteristic of a business company, esp. a law firm or brokerage, in which the partners belong almost exclusively to the white, Protestant, upper-class elite and are thought of as being conservative
See white-shoe in American Heritage Dictionary 4
(hwītˈsho͞oˈ)
adjective
Of or being a long-established business known for reputable service and a wealthy clientele: “took a job at … [a] pronouncedly white-shoe investment-banking firm”(Connie Bruck).