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Rajkumar Subramanian — Director - Head Product & Family Office · PL Capital Group (Prabhudas Lilladher) · Mumbai Metropolitan Region.
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About
Wealth management and private banking leader with 20+ years building product, alternative investment and family office platforms for UHNI clients, promoter families and single-family offices.
I currently lead Products & Family Office at PL Wealth Management (Prabhudas Lilladher Group), reporting to the CEO — building the firm's entire investment platform from a blank sheet: Mutual Funds, PMS/NDPMS, AIFs, Private Credit, Venture Debt, PE/VC Funds, MLDs, REITs/InvITs and GIFT City/Global Funds.
Before this, I spent close to 17 years across Axis Bank Burgundy Private, BNP Paribas Wealth Management, ASK Investment Managers, ICICI Bank Private Banking and Standard Chartered — originating and structuring private market opportunities, and building family office and alternate asset platforms from the ground up.
A few things I've built or led:
→ Built PL Wealth's product shelf from zero redesigning revenue from transaction-led brokerage to hybrid advisory-fee/trail/AUM-linked income
→ Negotiated 50+ institutional partnerships across AMCs, PMS/AIF managers and bond platforms
→ Grew alternate asset AUM by ₹1,350 Cr over three years at Axis Bank Burgundy Private, and built a Family Office proposition resulting in 47 client trusts and ~₹1,000 Cr of LAS sanctions
→ Structured ₹500 Cr of equity-linked debentures and mobilised USD 1 bn+ in FCNR/NRI flows at BNP Paribas Wealth Management
→ Opened GIFT City/IFSC access through India INX and launched India's first mezzanine fund for a private banking channel
I work across AIF (Cat I/II/III), PMS/NDPMS, private equity, venture capital, private credit, structured products, real estate credit, REITs/InvITs and offshore/GIFT City structures — with deep grounding in SEBI/RBI/FEMA product governance and investment committee documentation.
Always open to conversations with fund managers, family offices, and wealth platforms building something new.
Speak English, Hindi, Tamil, Malayalam and Bengali.
Experience
Director - Head Product & Family OfficeCurrent
Prabhudas Liladhar Wealth · Mumbai
Apr 2025 – Present
Hired to build the product, advisory and family office engine of a new wealth platform — full ownership of the product shelf, investment partnerships, research and content, analytics infrastructure and RM capability. • Built the firm's product shelf — Mutual Funds, PMS, DPMS & NDPMS, AIFs, High Yield Bonds, MLDs, Private Credit & Venture Debt Funds, PE/VC Funds, REITs/InvITs and GIFT City/Global Funds • Redesigned the revenue model from transaction-led brokerage to a hybrid of advisory fees, trail and AUM-linked income, laying the base for recurring revenue from FY27 • Negotiated 50+ institutional partnerships across AMCs, PMS and AIF managers, and bond/investment platforms; stitched partnerships with Aspero, BondBazaar, BondsVue and Yubi Markets for online fixed income • Established the Family Office proposition for UHNI and promoter families — access-led PE, VC and co-investment offerings backed by a legal and tax panel (Dhruva, Trilegal, Wadia Ghandy, S&G Partners) covering structuring, succession, trusts and FEMA • Launched PL Analytics, integrating MF Central, NSDL and CAMS data with model-portfolio comparison, giving RMs data-backed portfolio reviews and upsell triggers • Opened GIFT City/IFSC access through India INX for offshore equity, ETFs and funds, structuring a combined inbound-outbound offering for resident and NRI clients • Institutionalised thought leadership — monthly multi-asset outlook, published asset allocation models, fortnightly webinars and fund manager roundtables — positioning PL Wealth as a knowledge-led platform • Raised RM productivity through product training, mock pitches and joint client meetings; standardised portfolio review formats and compliance documentation
Head, Alternate Asset Strategy & Family Office Proposition, Burgundy Private
Axis Bank · Mumbai
Sep 2020 – Apr 2025
• Grew alternate asset AUM by ₹1,350 Cr over three years — including ₹316 Cr in the final fiscal year — through origination of private equity, real estate, infrastructure and private credit funds, and by creating co-investment access for private clients • Designed exclusive private market offerings that generated ₹650 Cr AUM, ₹12.8 Cr in upfront revenue and 80+ new client relationships • Built the Burgundy Private’s Family Office proposition — investment, succession and estate planning solutions for UHNW families — resulting in 47 client trusts and ~₹1,000 Cr of LAS sanctions • Secured Axis Bank's participation as a limited partner in two funds, strengthening manager alignment and client confidence • Established real estate, trust and estate planning partnerships that opened the unlisted and physical asset segment for the private bank • Lifted life insurance premium revenue 30% and 70% in successive years, contributing ~50% revenue growth over the period • Owned product governance and regulatory compliance for fund structuring, product approvals and client documentation
Education
Skills
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