First female chairman of SEBI, Madhabi Puri Buch
- ByStartupStory | February 28, 2022
For an initial period of three years, former whole-time member, Madhabi Puri Buch, becomes the first female chairperson of the Securities and Exchange Board of India (SEBI) today. Being the first woman to head the capital market regulator she is also the first person from the private sector. She started her career from February 2009 to May 2011 with ICICI bank, where she went on to become MD and CEO at ICICI Securities. A 1984 batch IAS officer from Himachal Pradesh cadre, Ajay Tyagi, headed SEBI for five years before Madhabi’s appointment. Ajay completed his term at the end of February.
In October 2021, the finance ministry invited applications from eligible candidates for the post of SEBI chairperson, and the deadline for the same was December 6, 2021. Suitable candidates were shortlisted by the Financial Sector Regulatory Appointments Search Committee (FSRASC), headed by the Cabinet Secretary, after the applications were rolled in. The panel comprising Economic Affairs Secretary and three external members having domain knowledge, interviewed the shortlisted candidates.
“Madhabi is also the first person from Indian Institute of Management Ahmedabad (IIM-A) who was the first woman chairperson, first leader from the private sector, and the first person to be leveled up from the whole-time member of the board. Tough job ahead, but no one better to lead the organisation,” Sandeep noted.
With an experience of over three decades in the financial markets, Madhabi was SEBI WTM between April 5, 2017, and October 4, 202. She handled portfolios, including surveillance, collective investment schemes, and investment management. Madhabi had shared during an event in 2019 that, she is a fan of the AA ecosystem because, on one hand, it would democratise data, and on the other, humanise transactions.
“Homeland Security in the US issued a list of 10 things you should do if you get taken a hostage. One of those top 10 things was to humanise yourself by sharing data about yourself with your captor. That, to me, is powerful because what that means is that even in a situation as adverse as being taken hostage, your personal data can make the difference between life and death,” Madhabi said during the event.
These include Shanmugam Krishnasamy, co-founder and CTO of Freshworks; Kiran Darisi, co-founder and VP of engineering at Freshworks; Parsuram Vijayasankar, co-founder and principal engineer at Freshworks; Vetri Vellore, CEO of Ally.io; Nitesh Banta, CEO at B12; Ioann Fainsilber, Co-Founder at Pintek, and others.
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