New Sebi chief Madhabi Puri Buch thanks Tyagi for setting strong foundation

Madhabi Puri Buch took over as the Chairperson of capital markets regulator Sebi on Wednesday, succeeding Ajay Tyagi who completed his five-year term.

Buch, the first woman to head the important financial regulator and also the first non-bureaucrat to lead it in many years, was appointed by the government for a three-year term this week.

Thanking Tyagi for his leadership and building the right foundations, Buch said,

"looking forward to building on the strong foundation that you have given us".

She was speaking at an event organised by Sebi for her taking over as the chief. Tyagi was also felicitated at the event.

Buch, who has worked with the ICICI Bank group for the longest time, earlier served as a Whole Time Member of the regulator till October last year.

She handled important functions like the Market Regulation Department, Market Intermediaries Regulation and Supervision Department, Integrated Surveillance Department, Investment Management Department and Department of Economic and Policy Analysis in her earlier stint with Sebi.

The veteran finance sector professional has also served as a consultant to the New Development Bank in Shanghai, and also headed private equity fund Greater Pacific Capital's Singapore office.

She has served as the Chief Executive of ICICI Securities, the brokerage arm of the ICICI Group, and also as an Executive Director on board of ICICI Bank, as per an official statement.

Buch holds a degree in management from the prestigious Indian Institute of Management, Ahmedabad and is a graduate in Mathematics from St Stephen's College, New Delhi.