Govt starts search for new SEBI chief as Buch’s tenure ends on Feb 28

New Delhi: The Union Ministry of Finance has started the search for a new chairman to head the Securities and Exchange Board of India (SEBI) as the tenure of incumbent Madhabi Puri Buch ends on February 28.

The Finance Ministry’s newspaper advertisements appeared on Monday inviting applications from qualified candidates for the appointment to the top post at the capital markets regulator.

The ad, titled ‘Filling up the post of Chairman in Securities and Exchange Board of India’ invites applications from eligible candidates for the post of SEBI Chairperson in Mumbai.

“The appointment shall be made for a maximum period of five years from the date of assumption of charge or till attaining the age of 65 years of the appointee, whichever is earlier,” the advertisement for the job states.

Sebi chief shall have the option to receive pay as admissible to a Secretary to the Government of India or a consolidated salary of Rs 5,62,500 per month without house and car.

The finance ministry has fixed a February 17 deadline for candidates to submit applications.

The tenure of Madhabi Puri Buch was appointed as SEBI chief in March 2022 for a period of three years till February 28. She was the first woman to head the capital markets regulator. Before being appointed as SEBI chief, Buch was a regular member of the SEBI board.

Buch succeeded former IAS officer Ajay Tyagi, whose term as SEBI chief ended after a two-year extension that followed his regular three-year stint. Tyagi had served in key posts in the Finance Ministry.

She was the first person from the private sector to head SEBI. Her career started in 1989 with ICICI Bank. Between 1993 and 1995, Buch worked as a lecturer at West Cheshire College in England. She worked in various profiles across companies for 12 years, including sales, marketing and product development. She also led operations. In 2006 she joined ICICI Securities and later went on to become their CEO from February 2009 to May 2011. After this, Buch moved to Singapore to join Greater Pacific Capital in 2011. Between 2011 and 2017 she worked in various capacities as executive director of many companies like Zensar Technologies, InnoVen Capital, and Max Healthcare.

–IANS