Woman all over the world are breaking the glass ceilings. India has achieved yet another milestone in that regard. The government appointed its first woman chairperson of India's market regulator Securities and Exchange Board of India (SEBI). Taking up the chief post is Madhabi Puri Buch, a former head of ICICI Securities. This is also the first time the government has picked a person from the private sector to lead SEBI.
Buch will succeed Ajay Tyagi, whose term ends on February 28. Tyagi, a 1984-batch IAS officer of Himachal Pradesh cadre, was appointed SEBI chairperson in March 2017 for a period of three years. His tenure was extended twice, first by six months and then by 18 months in August 2020.
Buch has been appointed SEBI's chair for a period of three years and will assume charge from March 1, 2022.
Who is Madhabi Puri Buch?
Madhabi Puri Buch is an alumna of Indian Institute of Management (IIM), Ahmedabad. She has over three decades of experience in the field of financial market. Buch started her career with ICICI Bank in 1989 and was promoted in the later years to become the MD and CEO at ICICI Securities.
In 2011, she left ICICI to move to Singapore to join Greater Pacific Capital LLP.
Buch has an extensive portfolio, having worked in corporate finance, branding, treasury and loans. She even served as a consultant to the New Development Bank, set up by the BRICS bloc of nations.
Interestingly, this won't be Buch's first stint at SEBi. She worked as a Whole Time Member in SEBI from 2017 till 2021.
