I'll begin by writing down the definitions I'm using, to avoid confusion.
Let $X$ be a Banach space and let $Y$ be a subspace of $X$. We say that $Y$ is complemented in $X$ if there exists a linear continuous operator $P : X \to Y$ such that Im$(P) = Y$ and $P \circ P =P$. Equivalently, $Y$ is complemented if $Y$ is closed and there is a closed subspace $W$ of $X$ such that $X = Y \oplus W$.
My question is this: Let $X$ be a Banach space, $Y$ a complemented subspace of $X$ and $Z$ a (closed) subspace of $X$ isomorphic to $Y$. Must $Z$ be complemented in $X$ as well?
The natural idea would be to take $P : X \to Y$ a projection and $T : Y \to Z$ an isomorphism, and define $Q = T \circ P : X \to Z$. The problem I'm having is showing that $Q(z)=z$, for all $z \in Z$, or $Q^2(x)=Q(x)$, or all $x \in X$. It's enough that $P(z)=T^{-1}(z)$, but I don't know if I can guarantee this - and this might be the clue to finding a counterexample.
Thank you in advance.