“White Shoe Firm” is an old-fashioned name for the most prestigious, well-established enterprises and companies.
White shoe firms are concentrated in certain professions, especially in the fields of law, banking and finance.
White shoe companies are also associated with Ivy League/WASP exclusivity and a conservative and discreet way of working.
The term “white shoes” comes from white oxfords, men’s shoes very popular among Ivy League students in the 1950s. The term “white shoe firm” appeared in the 1970s.
Over the years, a number of white shoe firms have been acquired by larger competitors or gone out of business.