Madhabi Puri Buch has been named the chairperson of Securities and Exchange Board of India (SEBI). Puri would be the first woman to head the capital market regulator as the tenure of incumbent Ajay Tyagi ends on February 28.
Earlier, Madhabi Puri Buch had served as whole-time member (WTM) at SEBI between 2017 and 2021. She started her career with ICICI Bank, went on to become MD and CEO at ICICI Securities from Feb 2009 to May 2011. Her LinkedIn profile states that she was the Head of Marketing and Sales for five years from 1997 to 2002, and was the Head of Product Development from 2002 to 2003. Following that, she was the Head of Operations from 2004 to 2006, and Executive Director from 2006 to 2009. She was also the Head of Brand Marketing from 1997 to 2009. In 2011, she left for Singapore to join Greater Pacific Capital LLP. She is an alumna of St Stephen’s College in Delhi University, as well as Indian Institute of Management, Ahmedabad (IIM-A).
“The Appointments Committee of the Cabinet has approved the appointment of Madhabi Puri Buch, former Whole Time Member, SEBI to the post of Chairman, Securities and Exchange Board of India (SEBI), initially for a period of three years from the date of assumption of charge of the post, or until further orders, whichever is earlier,” stated the government in a notification. The Finance Ministry had also invited applications in October for the post of the Chairman with a submission deadline of December 6.
As per the procedure for appointment of regulators, candidates are shortlisted by the Financial Sector Regulatory Appointments Search Committee headed by the cabinet secretary. Based upon interactions, the FSRASC recommends the name to the appointments committee of cabinet headed by prime minister Narendra Modi.