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Local brokerage house Prabhudas Lilladher has appointed Sandip Sabharwal as CEO – Portfolio Management Services (PMS). The former Chief Investment Officer (CIO) at JM Financial AMC will manage funds and investment mandates - to strengthen the brokerage house portfolio management business and introduce new PMS products.

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An IIT (Delhi) and IIM (Bangalore) alumni, Sandip started career as a research analyst at SBI Mutual Fund in 1995 and rose to become the Head of Equity in 2004.

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He left the firm to join Lotus AMC (now Religare Aegon AMC as the fund's CIO) and subsequently joined JM Financial AMC as the CIO (Equity).

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Sandip Sabharwal said in a statement, "PMS being run by relatively better known fund managers are largely elitist with very high entry barriers. Our aim will be to offer it to a more widely spread out universe and keep the entry barrier lower, without it impacting service standards to customers.

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Besides this, there is a large amount of liquidity globally which needs proper advice for investing into high growth economies like India and that is precisely what we will be focusing on. Starting off on a long term partnership, we will target a size of a billion dollars of funds under management in the next few years."

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