The Department of Economic Affairs, Ministry of Finance has invited applications to fill a second Whole-Time Member (WTM) position at the Securities and Exchange Board of India (SEBI), with the tenure of Ananth Narayan set to conclude in October.
The new member can serve for up to five years, as specified in the appointment order, but must retire on attaining the age of 65. Re-appointment is possible. The WTM shall be entitled to a pay of ₹5,00,000 per month. The Ministry of Finance has set October 6 as the last date for applications.
SEBI currently has only three WTMs–Ananth Narayan G, Amarjeet Singh and Kamlesh Chandra Varshney–since the tenure of Ashwani Bhatia ended in May. The government is expected to fill up both these WTM vacancies together by the end of the year, according to market participants.
Narayan, who joined SEBI as WTM in 2022, is currently responsible for several critical departments, including Market Intermediaries Regulation and Supervision, Alternative Investment Funds and Foreign Portfolio Investors, the Integrated Surveillance Department, the Department of Economic and Policy Analysis, and the Information Technology Department.
Before his regulatory role, Narayan spent over two decades in financial markets, holding senior positions at Citibank, Deutsche Bank, and Standard Chartered. He has also served as Associate Professor at SP Jain Institute of Management & Research and as a member of various boards and regulatory committees.