New Delhi, Feb. 18 -- The fight for India's fast-growing wealth pool has led to a battle for frontline talent. Relationship managers (RMs), as they are popularly called in banking parlance, are among the most sought-after professionals in the financial sector. Both private lenders and wealth management firms on an expansion spree want a larger number of high-net-worth clients on their books. To cater to this frenzied demand, a severe poaching war has engulfed the sector, with RM attrition at banks often rising to as high as 40% over the past couple of years.

"We have around 2,000-3,000 RMs, and this base has been growing steadily. Demand for RMs remains strong as the number of high-net-worth individuals (HNIs) continues to rise. RMs rema...