Madhabi Puri Buch is new Sebi chairperson

The government on Monday announced Madhabi Puri Buch as new the chairperson of the Securities and Exchange Board of India (Sebi). This appointment also marks a departure from the regular practice of hiring Sebi chairmen members who were typically men coming from the public sector or bureaucracy.

This is the first time that a woman and a person from the private sector has been chosen for a key post with the market regulator.

Buch, who was serving as the whole-time member at Sebi till last year and before that was serving at the New Development Bank in Shanghai, has been appointed for a period of three years, the department of personnel and training (DoPT) said in a notification. She has been appointed for a period of three years.

She will replace Ajay Tyagi as the Sebi chief who was a 1984 batch IAS officer of Himachal Pradesh cadre and was appointed as the chairman of Sebi on 1 March 2017, for a period of three years. Subsequently, he was given a six-month extension and later in August 2020, his tenure was extended by 18 months.