A member of the premier Indian Administrative Service (IAS), Manipur- Tripura cadre, since 1971, Mr. M. Damodaran has held a number of important positions in both the Central and State Governments and in India’s Financial Sector, before demitting office as Chairman, Securities and Exchange Board of India (SEBI) in 2008. He was appointed as Chief Secretary for Tripura in 1992 and worked as Joint Secretary in the Ministry of Finance, Banking Division dealing with Government’s ownership functions of Public Sector Banks and being its interface with Reserve Bank of India (RBI).
In 2001, he was appointed the Chairman of Unit Trust of India (UTI) to rescue India’s largest and oldest investment institution which had collapsed. He was simultaneously given charge of Industrial Development Bank of India (IDBI), another of India’s major financial institutions, which too was restructured by him in an innovative manner, pulling it back from the brink, transforming it to a bank, and merging it with another commercial bank. As Chairman SEBI, he brought improved practices to India’s securities market. During his tenure at SEBI, he was elected Chairman of 80 members Emerging Markets Committee of the International Organisation of Securities Commissions (IOSCO).
He is widely acknowledged as one of India’s foremost champion of Corporate Governance and has won several awards for Leadership, Governance, Transformation and Public Service. His areas of expertise include Financial Management, Securities Markets, Corporate Governance, Public Administration and Leadership. He presently heads the board of governors at the Indian Institute of Management Tiruchirappalli. He also is an independent consultant and corporate advisor, coach and mentor and sits on the Boards of several reputed companies.