Madhabi Puri Buch is the chairperson of the Securities and Exchange Board of India (SEBI), the regulatory body overseeing securities markets in India. She made history by becoming the first woman to lead SEBI. Her tenure began on March 1, 20221. Buch has been instrumental in implementing changes to enhance efficiency and corporatization within SEBI. Notably, she is also the first person from the private sector to hold this position. Her contributions include landmark regulatory orders, such as the one against Sahara Group and the investigation into insider trading by a CNBC Awaaz journalist1. Recently, in August 2024, Hindenburg Research accused her and her husband of having a stake in dubious offshore entities related to the Adani Group, but they denied the claims1. Quite an accomplished leader!
Career history
Madhabi Puri Buch has had an impressive career trajectory in the financial sector. Here’s a glimpse of her journey:
Early Career: She began her career in 1989 with ICICI Bank, where she worked as an investment banker. Later, she moved to England and worked as a professor at West Cheshire College for a few years.
ICICI Securities: Returning to India, Buch rejoined ICICI (Securities) in 2006. She held various roles across companies, including sales, marketing, and product development. From February 2009 to May 2011, she served as the Managing Director and CEO of ICICI Securities.
Singapore and Beyond: In 2011, Buch moved to Singapore and joined Greater Pacific Capital. Between 2011 and 2017, she worked in various capacities, including as an executive director at companies like Zensar Technologies, InnoVen Capital, and Max Healthcare. She also served as an independent director at the Indian School of Development Management (ISDM) and as a consultant for the New Development Bank (BRICS bank).
SEBI Journey: In April 2017, Buch was appointed as a whole-time director at SEBI. She handled portfolios related to collective investment schemes, surveillance, and investment management. Known for her technology-agnostic approach, she passed several landmark regulatory orders. Notably, she ordered the Sahara Group to return funds raised from investors and investigated insider trading by a CNBC Awaaz journalist.
SEBI Chairperson: Since March 2022, Madhabi Puri Buch has been the chairperson of SEBI, making her the first woman to lead the organization. Her tenure has been marked by rapid changes and efforts to improve efficiency and corporatization within SEBI.