Gurumoorthy Mahalingam took charge as Whole Time Member of SEBI on Wednesday in Mumbai. He has been appointed for a tenure of five years or till he attains 65 years of age.
Mahalingam will handle the Investment Management Department which includes mutual funds. Apart from this, he will also handle Integrated Surveillance Department, Enforcement Department, Foreign Portfolio Investors and Custodians, Collective Investment Schemes, Department of Economic and Policy Analysis.
Mahalingam will replace Prashant Saran who was heading the investment management division at SEBI. Saran’s tenure ended in June this year.
Prior to joining SEBI, Mahalingam was Executive Director at RBI. He has also served as Regional Director of RBI. He has also been associated with NISM as part of its visiting faculty.
Mahalingam is an MSc in Statistics and Operations Research from IIT, Kanpur and an MBA in International Banking and Finance from Birmingham Business School, United Kingdom.
Meanwhile, the finance ministry has also invited applications for the post of new SEBI chairman as U K Sinha’s tenure ends in February 2017. Sinha was appointed as the eighth SEBI chairman in February 2011 for three years. His tenure was extended twice.
