Swiss private banking group Bank Julius Baer has appointed David Lim as CEO of Singapore with immediate effect.

According to the bank, Thomas Meier, member of the Executive Board and CEO Asia & Middle East, who was also CEO Singapore previously, will remain based in Singapore as member of the Executive Board to lead the business and grow Asia as Julius Baer’s second home market.

In his new role, Lim will report to Meier.

Markus Kobler, COO Asia & Middle East, will also join Lim in management as deputy CEO Singapore.

Bank Julius Baer was awarded a wholesale banking license by The Monetary Authority of Singapore in 2007.

Bank Julius Baer now employs more than 500 employees in Asia.