Ed Annunziato

Wearing a suit (as I thoughtlessly did) to a new online investment bank is, you might say, a case of wilful overdressing. For Ed Annunziato, having quit Merrill Lynch for Wit Capital Europe, chinos and polo shirts are now more the thing. "I had to go out and buy all new clothes to comply with the dress code," he jokes. "The world is changing. It's bad news for Brooks Brothers." Nowadays, the only time he feels the need to dress "appropriately" is when he visits London brokers Cazenove, which recently took a 10% strategic stake in Wit.

Annunziato, a 45-year-old New Yorker, left a big job setting up Merrill's private equity division. Previously he had been co-head of investment banking for Europe. Now he is without an office of his own (he's in the midst of negotiating a lease) let alone a secretary.