IIM-A Celebrates SEBI Chief Who Dared To Be Different And 'Rewrote The Rules'

Madhabi Puri Buch, the current chairperson of the Securities and Exchange Board of India (SEBI), scripted history as the first woman to lead the organisation. A graduate of IIM-Ahmedabad, Buch holds a unique achievement as she was the only female student to opt out of the placement process. Despite this unconventional choice, she created her own path and her past decision paid off, after she was appointed as the SEBI’s chairperson in 2022.

On April 1, Buch returned to her alma mater as the Chief Guest for the 59th Convocation, where IIM-A celebrated her achievements. A post on X by the business school in her honour recalled her time at the institution, accompanied by excerpts from the IIMA Student Yearbook of 1987-88.

The text from her yearbook read, “Mad’s morning invariably begins with a call from home after which she goes about zapping the academics scene in her own neat, organised way. This 1 school doesn’t stop at excelling in academics but also enjoys debating, elocuting and amateur dramatics when she is on campus. Friday evenings, inevitably find Mad rushing off to Bombay. The only girl who’s pulled out of placement. We hope she finds just the job she is looking for, good luck, Mad.”

During a recent 59th convocation held at IIM-A, Madhabi Puri Buch described herself as not only a challenging boss but also an “impossible subordinate.” Buch compared her problem solving process to peeling an onion, as “it makes everybody cry.” However, she highlighted that despite the initial difficulty, all the issues are thoroughly addressed and resolved.

Looking back at her time at the institute, the SEBI chief claimed that she felt like being trapped in a pressure cooker for two years. The brief moments of relief she found were like the pressure cooker releasing steam, only to make space for fresh pressure to build up again. Despite the challenges, Buch acknowledged that her time at the institute taught her important lessons and she learned how to manage such an environment during her time at the Indian Institute of Management, Ahmedabad.

Madhabi Puri Buch started her professional journey as a social worker at PRADAN from 1988 to 1989. She then became the Finance Analyst at ICICI Bank from 1989 to 1992, followed by a Lecturer at West Cheshire College in the United Kingdom between 1993 and 1995. From 1997 to 2009, she held various positions at ICICI Bank and later became the Executive Director. She also served as CEO of ICICI Securities from 2009 to 2011 and headed the Singapore office of the Private Equity Firm Greater Pacific Capital from 2011 to 2013.

In 2016, Buch was appointed as a Consultant to the New Development Bank (NDB) in Shanghai. Before becoming Chairperson of SEBI in March 2022, she was a Whole Time Member of SEBI from 2017 to 2021.