Yeah but i think he said this was for investment banking so their dress code would be a bit more formal
No, it's not. I'm no longer an investment banker - I moved to the principal side a while back - but I know those guys at UBS. Wall Street is nearly universally business casual now -- Lehman and Bear were the only exceptions (and look what happened to them...)
Whereof one does not know, thereof one must remain silent. (apologies to Wittgenstein)
To the OP, again: unless you know exactly what you're doing (and why), conformity should *always* be your default clothing option in a Wall Street work setting. If the dress code says "smart casual", dress smart casual.