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Madhabi Puri Buch appointed SEBI chairperson for a term of three years

February 28, 2022 03:10 PM

Madhabi Puri Buch appointed Sebi chairperson
Madhabi Puri Buch has been appointed as Sebi chairperson for an initial period of three years.

Madhabi Puri Buch has been appointed as SEBI chairperson for an initial period of three years.

Current chairman Ajay Tyagi’s tenure as SEBI chairman ends today. He served as chairman for five years. Puri Buch, who has been granted an initial term of three years, will assume charge on March 1

Buch is a former whole-time member of SEBI. Madhabi Puri Buch will be the first woman to head the securities market regulator, which has evolved to become one of the most important institutions in the financial market ecosystem. She is also the first person from the private sector to head SEBI.

Her responsibilities at the regulator included handling a range of departments from market and market intermediaries regulation to integrated surveillance and economic and policy analysis.

Before joining SEBI, Madhabi Puri Buch served as consultant to the New Development Bank in Shanghai and also headed the Singapore office of the private equity firm, Greater Pacific Capital.

Madhabi Puri Buch will succeed Ajay Tyagi, whose five-year term comes to an end in February. Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre, was appointed as SEBI chairman on March 1, 2017, for a period of three years. Subsequently, he was given a six-month extension and later in August 2020, his tenure was extended by another 18 months.

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Buch has experience of more than three decades and had in the past headed various SEBI committees.
The latest one was an advisory committee, pertaining to areas like securities market, data access and privacy. SEBI had in December restructured the committee, making S Sahoo, Professor at National Law University, Delhi and former chairperson, as a new chair.

The contenders for the next SEBI chief post included IFSCA Chairman Injeti Srinivas and ex-Finance Secretary Debasish Panda.

Buch, a management graduate from Indian Institute of Management (IIM), Ahmedabad in a career spanning over 20 years has served at various roles in private banks. She started her career with ICICI Bank and went on to become the managing director and chief executive officer at ICICI Securities Ltd from February 2009 to May 2011.

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