[Tom Edgerton]

I don't know, guys, I think it pretty much swings now, if the clothing is the right pitch of informality vs. formality.

If the young man is tall and lanky, this gives me that feeling, as there isn't a lot of space above his head. It feels like he is using up all the vertical space, as tall folks do. If he's a more average stature, then I think you could open it up.

Having him somewhat close to the left edge sets up a tension between the organic curves of the body and the straight edge, balanced by the push of the arm toward the right side and down into the chair.

The colors and values in the tie blend with the background nicely now, unless he's more informal than this. Watch that a darker value tie doesn't bisect him down the middle.

I kind of like the edge-on view of the chair--it flows from the arm because it's a similar width. Look at the similar effect in this Sargent. The edge-on view of the fan is this painting's master stroke.

I don't mean to be a contrarian, but food for thought. You could apply Mike's Golden Mean diagram and see where everything falls as a sanity check.