Former banker Madhabi Puri Buch has been appointed as the new chairperson of the Securities and Exchange Board of India (SEBI). She is the first-ever woman to head the capital markets regulator. Buch will take over the current SEBI chief Ajay Tyagi whose five-year term ends in February.
Mr. Tyagi (63) is a 1984 batch IAS officer of the Himachal Pradesh cadre. He was appointed as SEBI Chairperson on March 1, 2017, for three years. His tenure was subsequently extended.
The candidates for appointing the regulators are shortlisted by the Financial Sector Regulatory Appointments Search Committee (FSRASC) headed by the Cabinet Secretary.
They are interviewed by the panel comprising the Economic Affairs Secretary and three external members with domain knowledge. Their recommendation is sent to the Appointments Committee of Cabinet headed by the Prime Minister. As per the SEBI Act, the SEBI chairman is appointed for a maximum of five years or till 65 years, whichever is earlier.
Buch has over three decades of experience in the financial markets. During her tenure at SEBI, she handled various portfolios, like surveillance, collective investment schemes, and investment management.
Buch has experience of more than three decades and has headed various SEBI committees, including the seven-member expert group that was formed to help SEBI design in-house technological systems. She was formerly the whole-time member (WTM) of SEBI.
A graduate in mathematics from Delhi’s prestigious St. Stephen’s College, she started her career with ICICI Bank. She became the managing director and CEO at ICICI Securities from February 2009 to May 2011.
In 2011, the IIM, Ahmedabad graduate, left for Singapore to join private equity firm Greater Pacific Capital LLP. She later served as a consultant to the New Development Bank, set up by the BRICS bloc of nations, in Shanghai.
She is the founder-director of Agora Advisory Pvt. Ltd.
Published By – Bharat Anand
Editor – Subbuthai Padma
