Tuhin Kanta Pandey assumed charge as the 11th chairman of the capital markets regulator Securities and Exchange Board of India (SEBI) on Saturday.

He replaced Madhabi Puri Buch, whose three-year tenure ended on Friday. Buch, who is reportedly unwell, was not present to receive Pandey at the SEBI headquarters.

• Also read: Finance Secretary Tuhin Kanta Pandey is the new SEBI chief

He arrived at the SEBI headquarters in the Bandra Kurla Complex business district on Saturday afternoon.

All four SEBI whole-time members — Ashwani Bhatia, Ananth Narayan, Amarjeet Singh and Kamlesh Varshney — welcomed him.

Video Credit: PTI

Speaking to media, Pandey said, “SEBI is a very robust market institution built over the years with successive leadership and will continue with it. We hold the trust of the Parliament, the Government, the people of India, industry and investors—trust will be very important.” He outlined the four pillars for the organisation under his leadership: Trust, Transparency, Teamwork and Technology.

“We have built such a good institution and we will continue to put our own contributions to its growth,” he added. A career bureaucrat who was serving as the Finance Secretary, Pandey was appointed chairman of SEBI for three years by the government on Thursday.