White-shoe-firm meaning

A top-ranked investment bank that participates only in the best capital-raising and merger deals. The term suggests an elite, upper-class firm. The term comes from the white buck shoes that were popular at Ivy League schools during the 1950s. The people typically hired by the elite investment banks were presumed to have Ivy League backgrounds.
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An old and prestigious firm (as law or banking), possibly also culturally exclusive.
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