Madhabi Puri Buch will take over from Ajay Tyagi, whose five-year tenure ends in February. On March 1, 2017, Tyagi, a 1984 batch IAS officer from the Himachal Pradesh cadre, was appointed as Sebi chairman for a three-year term.
Madhabi Puri Buch has been appointed as new the Securities and Exchange Board of India (SEBI) chairman for a three-year term. Buch was a full-time member of Sebi in the past.
Buch will take over from Ajay Tyagi, whose five-year tenure ends in February. On March 1, 2017, Tyagi, a 1984 batch IAS officer from the Himachal Pradesh cadre, was appointed as Sebi chairman for a three-year term.
Tyagi was awarded a six-month extension afterwards when his three-year tenure ended, and again his term was extended for another 18 months in August 2020.
Buch has an MBA from the Indian Institute of Management, Ahmedabad and is a graduate of St. Stephen’s College in New Delhi with a degree in mathematics.
Buch has more than three decades of expertise and has previously chaired numerous Sebi committees.
The most recent was an advisory committee that dealt with issues such as access to securities market data and privacy. Sebi reformed the committee in December, naming S Sahoo, a former chairperson and professor at National Law University in Delhi, as the new chair.
Buch worked as a consultant for the Shanghai-based New Development Bank. Buch also worked for Greater Pacific Capital, a private equity firm, as the head of its Singapore office. She was also the Managing Director and Chief Executive Officer of ICICI Securities Limited, as well as an Executive Director on the ICICI Bank Board of Directors.
According to ET NOW, IFSCA Chairman Injeti Srinivas and ex-Finance Secretary Debasish Panda were among the candidates for the future Sebi chairmanship.
In October 2021, the Finance Ministry issued a call for applications from qualified applicants for the position of SEBI Chairperson, with a deadline of December 6, 2021.
The panel, which consists of the Economic Affairs Secretary and three external experts with subject competence, interviews the selected applicants.
Furthermore, the high-level panel has the right to propose candidates who have not applied for the advertised position.
Based on their contacts, the FSRASC proposes the name to the Prime Minister’s Appointments Committee.