Madhabi Puri Buch’s appointment as chairperson of the Securities and Exchange of India (Sebi) was notable since she was the country’s first female market regulator.
The government selected Buch as the Sebi’s next chairman on Monday, after current Chairman Ajay Tyagi’s term expired on February 28. (Monday).
She replaces Tyagi, a Himachal Pradesh cadre IAS officer who was named chairperson on March 1, 2017. Tyagi was provided 2 extensions after his 3 terms expired.
As per a statement from the Ministry of Manpower and Training, her candidacy was approved by the Cabinet Appointments Committee for a three-year tenure (DoPT).
Buch was not just the first woman to lead the Sebi, but come from a business lead one of the country’s most important financial institutions.
According to a statement published by the Indian Government, the Appointments Commission of the Cabinet has endorsed Madhabi Puri Buch’s nomination to the office of Chairman, SEBI, Initially, for three years from the start date of the job.
Who is Madhabi Puri Buch?
From 2017 to 2021, Madhabi Puri Buch served as a full-time member of SEBI and is now the first woman to serve as its chairman.
- Buch is an alumnus of IIM Ahmedabad, which is a business school in the city. As well, she will be the first person from the private sector to be on the board.
Buch used to be on the forums of Zensar Software Solutions, Idea Cellular Ltd, and Maximum Healthcare as a non-executive director, but he no longer does that. When she was CEO of ICICI Securities, she worked there for two years, as well.
- The next SEBI Chairperson has worn numerous hats, including being a member of the Indian Banks Associations’ founding committee. She has also served on the Mumbai Chamber of Commerce and Industry’s management committee.
- Madhabi Puri Buch will be the SEBI Chairperson for the first time, taking office on March 2, 2022.
Madhabi Puri Buch Experiences:
Madhabi Puri Buch (56) was a permanent member of the Sebi from April 2017 to October 2021. According to accounts, she has approximately three decades of experience.
Buch, who has worked in the financial business for three decades, began her career in 1989 with ICICI Bank. She has worked in a range of areas for the past 12 years, covering finance, marketing and treasuries, and lending. According to her LinkedIn profile, she was the head of sales and marketing for 5 years, from 1997 to 2002, and then the director of product design from 2002 to 2003. She’s also held the position of Operations Manager (2004 to 2006).
Buch ICICI Securities was ICICI Securities’ Managing Director and CEO from February 2009 to May 2011. (CEO). She also joined the board of ICICI Bank as an executive director.
Buch joined Larger Pacific Capital LLP in Singapore in 2011. She has also served on the Mumbai Chamber of Commerce and Industry’s management committee. Between 2011 and 2017, she served as a non-executive director at Idea Cellular. She was also a non-executive director at Zansar Technology, Innovate Capital, and Max Healthcare, as well as an individual director at the Indian School of Development Management.
Additionally, she worked for the BRICS Development Fund for three years as a consultant. Since 1993, she has been a professor at West Cheshire University in the United Kingdom.
During her time at the Sebi, Buch handled portfolios such as collective investment schemes, surveillance, and investment management, and was a member of a seven-person technology committee formed to assist the Sebi in developing in-house technical solutions.
Her education was at Fort Convent in Mumbai and Convent of Mary in Delhi, according to her LinkedIn page. She then earned a master’s in mathematics from St Stephen’s State university Of new Delhi. She The Indian Institute in Ahmedabad awarded her bachelor’s degree in management (IIM).
What will be the first order of business for the new SEBI Chairperson?
Madhabi Puri Buch would take over as the new Chief of SEBI while the global markets are stirred up by the Russia-Ukraine conflict. Buch’s first item on the agenda will be to approve the papers for the Life Insurance Company of India’s initial public offering (LIC).