Madhabi Puri Buch has got a one-year extension as whole-time member (WTM) at the Securities and Exchange Board of India (Sebi).
“The appointments committee of the cabinet has approved the extension in the term of appointment of Madhabi Puri Buch as WTM Sebi for a further period of one year beyond October 4, 2020 or until further orders, whichever is earlier,” said the government in a notification.
Puri Buch, the only female board member at Sebi, oversees portfolios such as surveillance, collective investment schemes and investment management. An alumna of Indian Institute of Management (IIM), Ahmedabad, Buch has nearly three decades of financial market experience. She joined ICICI Bank in 1989.
At the private lender, Buch worked in corporate finance, branding, treasury and loans, before moving to ICICI Securities. She headed the domestic investment bank before moving abroad, where she headed private equity firm Greater Pacific Capital. She later served as a consultant to the New Development Bank, set up by the BRICS bloc of nations.
The government in April extended her tenure by six months citing the economic impact of the coronavirus pandemic. Sebi chairman Ajay Tyagi’s tenure was extended by 18 months.
Sources said the government screened over 50 candidates for the WTM post but decided to go for continuity at a time when the market regulator has to manage various stakeholders battling the pandemic.