Two Singapore-based private bankers catering to non-resident Indians, Shiladitya Choudhuri and Shailendra Kirtikar, have left HSBC with the former moving to Calyon, part of Credit Agricole, WealthBriefing has learned. The destination of the other HSBC employee could not be confirmed.

The move of the two bankers comes at a time of heavy turnover in the NRI field, seen by wealth managers as a lucrative market due to the recent strong growth of the Indian economy and its burgeoning middle class.

Late last month, for example, this publication exclusively reported that Barclays Wealth had hired a team of NRI bankers from UBS in Singapore. In May, Rina Bijur, who was reported in February to be leaving Citi to work with non-resident Indian clients at Standard Chartered, has joined the UK-listed bank.