Tougher performance thresholds have led to the departure of 127 client advisers in the half year to June at EFG International, the Swiss-based private bank once renowned as a serial recruiter of talent and acquirer of businesses.

EFG stressed that it had recruited 75 new advisers, taking the net loss of advisers to 52. In a statement, the company said: "EFG International continues to hire experienced and talented relationship officers."