EFG International has posted a pre-tax profit of CHF 42 million for the six months ending 30 June, down 12.5 percent from the CHF 48 million reported for the same period last year.

The group said that overall, its results were impacted by “challenging market conditions”. Interest income, banking fee and commission income, and trading/forex income all fell.

Despite a somewhat gloomy backdrop, the group said it was committed to continue hiring, and had added 94 new client relationship executives in the first half of 2019, though staff costs were broadly flat year-on-year (CHF 357.8 million compared with CHF 355.4 at 3...