Squeezed between George Clooney and Jude Law in Vanity Fair's latest list of the 20 best-dressed people in the world is banker Ogden Phipps, a managing partner in the New York-based Guggenheim Merchant Bank.

He can afford to dress well: his great-great-grandfather was Henry Phipps, partner of the steel magnate Andrew Carnegie. His father was the chairman of Bessemer Trust, the private bank that manages the Phipps family fortune, and also chairman of the Jockey Club in New York and a renowned horse breeder.