India’s international finance hub is facing intensifying competition for talent, with the local heads of two foreign lenders resigning in quick succession for new opportunities in the low-tax center, according to people familiar with the matter.
Two bank chiefs based in Gujarat International Finance Tec-City, or GIFT City, have stepped down from their roles in the last few months, said the people familiar with the matter, who declined to be identified as the matter is private. They said Taral Shah, who headed Singapore’s DBS Bank Ltd.’s GIFT City unit, had handed in his resignation following a nearly 13-year stint that included three years in the hub.
