Senior IAS officer Ajay Tyagi appointed Sebi chief for five years

He replaces U K Sinha; he served as Additional Affairs Secretary for Economic Affairs Department.

Senior Finance Ministry official Ajay Tyagi was today appointed as chairman of Securities and Exchange Board of India (Sebi).

He will succeed Upendra Kumar Sinha, whose extended tenure ends on March 1.

Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre, is at present Additional Secretary (Investment) in the Department of Economic Affairs and handles capital market, among others.

Tyagi has been appointed as chairman of the markets regulator, an official order said. 

Sinha's three-year term began in February 2011, following which he got two extensions, making him one of the longest-serving SEBI chiefs.