Madhabi Puri Buch Age, Education, Family, Career, Salary, Biography
Madhabi Puri Buch is one of India's leading personalities in finance. She has worked for over three decades in key positions which have contributed to the construction of India's regulatory frame. Born in 1966, Madhabi's experience in finance has been marked by perseverance and commitment to being the best.
Education
Academic qualifications began at the Fort Convent School in Mumbai, continued by the Convent of Jesus and Mary at Delhi, and then led to Math at St Stephen's College, Delhi-the most premium institution in the country. She then moved on for an MBA at the IIM, Ahmedabad - the premier institution for Indian business schools. Her robust academic background, therefore has been a sturdy foundation upon which her career built itself.
Family
Madhabi Puri Buch got married to Dhawal Buch when she was 21 years old. Dhawal, too is a professional and has sat on advisory boards of companies such as Blackstone and Alvarez & Marsal and also is a non-executive director at Gildan. The couple has one son, Abhay. Throughout her career, Madhabi's family has been a huge source of support and kept the balance between professional and personal life.
Early Career
Madhabi's professional career was initiated in the year 1989, at ICICI Bank. There she learned all that she knew about sales, marketing, and product development. From 1993-1995, she also lectured at West Cheshire College in England.
Between 1995 and 2006, she worked with various companies in different roles that enhanced her knowledge. When she joined ICICI Securities in 2006, she got a real thrust into the corporate stratum. As of 2009, Madhabi has emerged as the CEO of ICICI Securities, marking the level at which she proved herself for the bigger financial houses.
Some of her international experience include time spent in Singapore with Greater Pacific Capital in 2011. Exposure to knowledge about the financial industry increased from this time spent.
SEBI and Major Achievement
In April 2017, Madhabi's career touched a new height as she became a full-time member of the Securities and Exchange Board of India. She played a significant role in overseeing investment management, collective investment schemes, and surveillance at SEBI. Innovative approaches characterized her, and she also emphasized the importance of technology in bringing forth crucial regulatory changes.
Among the landmark decisions, one order was against Sahara Group asking them to return Rs 14,000 crore to investors. She showed how she was on the side of investors and had a concern for the sanctity of the market. She also cracked down on insider trading and protected private information, which further cemented the confidence of financial markets in India.
One such woman is Madhabi Puri Buch, who is the first ever to have been appointed as the chairperson of SEBI in 2022. The Buch leadership marked major changes for SEBI. Amongst these, she ensured that there were measures for the professionalization and modernization of the organization to make it agile and responsive to emerging needs in the financial sector.
Salary and Net Worth
While her exact salary as the SEBI chairperson is not in the public domain, it is reported that Madhabi earns approximately Rs 3 lakh per month, amounting to over Rs 36 lakh annually. Her net worth, as of early 2023, was estimated between INR 4-5 crores.
Challenges and Controversies
Still, a problem with allegations did surface for Madhabi on this count. A report of Hindenburg Research even asserted that she and her husband were connected to certain offshore firms that inflated shares of the Adani Group. To these accusations, the couple refused with proper disclosures to SEBI stating that their investments into the firm had absolutely no connection with the Adani Group.
In 2016, while chairperson of the SEBI, it was further alleged she received pecuniary benefit from ICICI Bank.
PAC continues to examine the issue.
Conclusion
Madhabi Puri Buch is an embodiment of determination, intellect, and leadership. Her career does exactly revolve around the changing face of India's financial sector, and she will continue to be a transforming force at SEBI. Further steps in her career and new milestones in her biography are sure to follow.
