My grandparents, being Yekkies, only wore a Yarmulka at Devarim Shebikdusha. Once in America they adapted to the Minhag Hamakom and kept it on at all times.
While we would be proud of someone who displays his Yiddishkeit unabashedly, some people feel that we are look down at, or backward at, and that it would hinder their business relationships. He is not being Oiver on anything.
A lot of Heteirim are measured for businessmen. Parnassa is not a luxury, it is a necessity. The Ben Ish Chai allowed some to shave, although they were very Makpid on that, because of Parnassa reasons.