Madhabi Puri-Buch, managing director & CEO of ICICI Securities, will be on a sabbatical from the ICICI Group for a period of three years. The investment banker is shifting to Singapore where her husband Dhaval Buch is currently located. Dhaval Buch, who is with the global FMCG major Unilever, is a part of the Unilever Asia team that is leading the company’s businesses in Asia and Africa.
In a note sent internally, Buch said, “This is just a small note to say ‘thank you’ for all your support over the years. I would be on a sabbatical from the ICICI Group for a period of three years and would be based in Singapore. I am sure that Anup Bagchi, the new CEO of ICICI Securities, would be delighted to hear from you.”
Anup Bagchi, who is executive director at ICICI Securities, will be Buch’s successor. Both Buch and Bagchi are also board members of ICICI Securities. Bagchi, who has been with the ICICI Group for over 17 years, is in charge of the retail broking business, distribution of retail financial products and wealth management services.
As head of ICICI Securities, Buch is responsible for the firm’s corporate finance activities, which include equity capital markets advisory services and institutional and retail stock broking.
Prior to her present assignment, Buch was an executive director on the board of ICICI Bank. She was responsible for the global market business covering treasury solutions for clients, including foreign exchange, fixed income and derivatives.
There have been many top level changes at the country’s largest private sector lender in the recent years. In April 2009, Shikha Sharma, MD & CEO of ICICI Prudential Life Insurance, quit to become the MD & CEO of Axis Bank. In the same month, Renuka Ramnath, MD & CEO of ICICI Ventures, left to set up her own venture, Multiples Alternate Asset Management.