Eminent banker Madhabi Puri Buch today took charge as a Whole Time Member of capital markets watchdog Sebi and will oversee key departments relating to regulation, supervision and surveillance.
She would also handle economic and policy analysis, investor assistance and education and information technology departments, as also Sebi's education initiative NISM (National Institute of Securities Markets).
Buch, who has held various senior-level positions in the private sector in the past, including at ICICI Bank, is the first full-time women member of the board of the country's capital markets regulator.
She would have a tenure of three years, Sebi said. Prior to the new role, Buch was serving as a consultant to the New Development Bank in Shanghai.
As per the new work allocation plan at Sebi (Securities and Exchange Board of India), Buch's portfolio would include Market Regulation Department, Integrated Surveillance Department and Department of Economic and Policy Analysis, for which she would be assisted by Executive Director S V Murali Dhar Rao.
She would also handle the Market Intermediaries Regulation and Supervision Department (MIRSD) along with Executive Director S Ravindran, while another ED S K Mohanty will help her in handling of the Office of Investor Assistance and Education (OIAE) and the Information Technology Department.
She will have direct supervision of the National Institute of Securities Markets (NISM).
Besides Chairman Ajay Tyagi, Sebi's board has three whole-time members -- Buch, G Mahalingam and S Raman.
There are also part-time independent directors and nominee directors of RBI, Finance Ministry and Corporate Affairs Ministry on Sebi's board.
Raman's portfolio includes corporation finance, legal affairs, investigations and commodity derivatives market regulation departments, as also the Special Enforcement Cell, the Office of International Affairs and the RTI-Appellate Authority.
Mahalingam will handle departments relating to enforcement, investment management, foreign portfolio investors and custodians, Collective Investment Schemes (CIS), general services, Parliament questions, enquiries and adjudication, human resources and regional offices.
Buch is an MBA from IIM Ahmedabad and an alumnus of St Stephen's College, Delhi.
Before joining Sebi, she was heading Agora Partners, a consulting and incubation firm, and also the Singapore office of Greater Pacific Capital, a London-based private equity firm.
Prior to that, she was the CEO of ICICI Securities, the investment banking and broking arm of the ICICI Group and had also served as an Executive Director on the board of ICICI Bank.
She has also set up a small foundation that undertakes projects with grassroot NGOs.
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