Julius Baer defends surprise choice of new Asia CEO

Swiss private bank Julius Baer’s hiring of Jimmy Lee as Asia-Pacific CEO has surprised industry players, who expected the firm to turn to one of its long-serving regional deputies. It has been predicted that the hiring will create tensions within the firm after two regional chiefs were passed over for the top job. But the private bank’s global CEO has defended the move, saying that Lee’s familiarity with the business and his future colleagues, coupled with his neutrality as an o…