Madhabi Puri Buch, a former whole-time member of the Securities and Exchange Board of India (Sebi), became the first woman to head the market regulator as chairperson. Buch also became the first person from the private sector to head one of the most important institutions in the financial market.
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The Appointments Committee of Cabinet approved her appointment for a period of three years, the department of personnel and training (DoPT) said in a notification.
Buch will take over from Ajay Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre, who became the Sebi chairman on March 1, 2017. Tyagi has received two extensions after the end of his three-year term. Tyagi's tenure ended on February 28.
Buch will assume charge on March 1.
According to her LinkedIn profile, Buch has done her schooling at Fort Convent in Mumbai and Convent of Jesus and Mary in Delhi. She is an alumna of the Indian Institute of Management (IIM), Ahmedabad. Prior to that, she did her graduation in Mathematics from St Stephen’s College, New Delhi.
Private sector stint
Buch has nearly three decades of experience in the financial market. Starting her career in 1989 with ICICI Bank, Buch worked in various profiles for 12 years, including in corporate finance, branding and treasury and loans. Her LinkedIn profile shows that she headed the marketing and sales department for five years from 1997 to 2002 and was then head of product development from 2002 to 2003. She has also held the post of head of operations (2004 to 2006). She later moved to ICICI Securities, where she became the managing director and CEO from February 2009 to May 2011. She was also an executive director on the board of ICICI Bank.
In 2011, Buch joined the Greater Pacific Capital LLP in Singapore. She is the founder-director of Agora Advisory Pvt Ltd. She worked as the non-executive director for Idea Cellular from 2011 to 2017. Apart from this, she held multiple non-executive director roles in Zansar Technologies, Innoven Capital, and Max Healthcare, and also served as an independent director of the Indian School of Development Management (ISDM). Buch also worked as a consultant at the New Development Bank, set up by the BRICS bloc of nations, in Shanghai for a period of three years. Earlier, Buch worked as a lecturer at West Cheshire College, England, for two years between 1993 and 1995.
Buch in Sebi
Buch has been the whole-time member of Sebi from April 5, 2017, to October 4, 2021. She handled portfolios like collective investment schemes, surveillance and investment management during her term at Sebi. After her tenure ended in Sebi, Buch became a part of a seven-member technology committee formed to help Sebi design in-house technological systems.