First Woman Chairperson Of SEBI
The government appointed former banker Madhabi Puri Buch as the chairperson of the (Sebi) Securities and Exchange Board of India. The Appointments Committee of Cabinet has give an freen flag to Buch’s appointment for an primary period of 3 years, as per the reports. She is the 1st ever woman to be the head of the capital markets regulator.
Ms. Buch, at the age of 57, was not only the 1st woman full-time member of SEBI but also the 1st person from the private industry functioning at the regulator. She replaces Ajay Tyagi, a bureaucrat whose period as SEBI chairman has just end.
Madhabi is a graduate from Delhi’s fame St Stephen’s College and did an MBA from IIM Ahmedabad, further, she has experience of 3 decades in financial market.
Beginning her profession with the ICICI Bank, she went on to become the (MD) managing director and CEO at ICICI from February 2009 to May 2011. Further, in the year 2011, she left for Singapore to work in a private equity firm Greater Pacific Capital LLP. After that, she functioned as a consultant to the New Development Bank, which was setted up by the BRICS bloc of nations, in the Shanghai. She is also the founder-director of Agora Advisory Pvt. Ltd.
Ms. Buch, who will started the charge on March 1, has also worked closely with previous chairperson, Mr. Tyagi, who serves as a full-time member.
She handled portfolios such as collective investment schemes, surveillance, and investment management.
Sources stated that the Appointments Committee of Cabinet was presided by PM Narendra Modi. As per the functioning for the appointment of regulators, all the candidates are shortlisted by the (FSRASC) Financial Sector Regulatory Appointments Search Committee headed by the Cabinet Secretary.
They are further interviewed by the group including Economic Affairs Secretary and 3 external members having field knowledge and their recommendation is set to the Appointments Committee of Cabinet presided by the PM (Prime Minister).
As per the Act of SEBI, the SEBI chairman is appointed for a max period of 5 years or till 65 years.
The govt. had provided an extension to the U. K. Sinha for 2 years, making him the 2nd longest operating chief of SEBI after, the D. R. Mehta.
According to the Linkedin profile of the current chairperson, she joined ICICI Bank in the year 1989. She had a 12-year of experience at ICICI Bank, including 3 years as executive director, before going to ICICI Securities.
She is looking like the best choice for the post.
