Buch replaces Ajay Tyagi, who concluded his five-year tenure.
The Appointments Committee of Cabinet has approved Buch’s appointment for an initial period of three years, sources said.
Buch served as a whole-time member of SEBI and has also been a consultant to the New Development Bank in Shanghai, China. She has also served as the Head of the Singapore office of the Private Equity Firm, Greater Pacific Capital.
Buch had a long stint in ICICI Group and served as the MD and CEO at ICICI Securities Limited. She has also been an executive director on the board of ICICI Bank.
A graduate of St Stephen’s College, Buch holds an MBA from the Indian Institute of Management, Ahmedabad.
Buch’s predecessor Ajay Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre, was appointed as SEBI Chairman on March 1, 2017, for a period of three years.
Subsequently, he was given a six-month extension and later in August 2020, his tenure was extended by another 18 months.
As per the procedure for the appointment of regulators, the candidates are shortlisted by the Financial Sector Regulatory Appointments Search Committee (FSRASC) headed by cabinet secretary.
As per the SEBI policy, the Chairman is appointed for a maximum period of five years or till 65 years, whichever is earlier.