Madhabi Puri Buch becomes 1st woman chairperson to head SEBI

New Delhi: Madhabi Puri Buch has become the first woman to head the Securities and Exchange Board of India (SEBI) on Monday. She will assume the charge on March 1. The current chairperson of SEBI is Ajay Tyagi and February 28 is his last day in the office.

Who is Madhabi Puri Buch?

Madhabi Puri completed her Graduation from St Stephen’s College. She is also an alumna of the Indian Institute of Management  (IIM), Ahmedabad.

She is reported to start her career with ICCI Bank in 1989. She also held the responsibilities of  Managing Director (MD) and Chief Executive Officer (CEO) at ICCI Securities from February 2009 to May 2011.

After leaving ICCI in 2011, she joined Singapore-based Greater Pacific Capital LLP.

Buch is a former SEBI Whole Time Member (WTM). Between April 5, 2017, and October 4, 2021, she was with Tyagi working as the WTM.

Meanwhile, she went on to hold important portfolios such as surveillance, collective investment schemes, and investment management.

In the past, she was also nominated to lead a new technology committee made by the SEBI.

Notably, she is also the first person to head SEBI who comes from the private sector.

Application invited in October

Earlier, it was speculation that Ajay Tyagi will get another extension. However, the speculation ended after the finance ministry invited applications for the post of chairman in October.

The deadline for submission of the application for the post was December 6.

In SEBI, the appointment of regulators, candidates are decided by the Financial Sector Regulatory Appointments Search Committee. The Search Committee is headed by the cabinet secretary. The appointments committee is headed by the Prime Minister of India.