Thanks for all the replies. Unfortunately he did not have any identification in or on the bag (it was a cheap plastic suit bag from Paul Smith / Holt Renfrew). I think if he had have had his business card on it he may have received a call from the L&F by now. As of Monday afternoon they still don't have a clue and won't give him a direct phone number for pearson AC L&F.
The worst of it all is that he hadn't even worn the suit yet - he had just picked it up from alterations last week (to the tune of $1500).
The hardest part about all this is the hold times for AC. He's spent over 6 hrs on hold this weekend trying to get any info at all out of AC.
I told him about the great PS Shops in London (where he will be wednesday), but that didn't seem to console him too much.