Martin Slumbers will replace Peter Dawson as the Royal & Ancient (R&A) chief executive when he steps down next September, it has been announced.
Slumbers, a qualified chartered accountant currently working for Deutsche Bank, will join the R&A in March as chief executive designate and spend six months working alongside Dawson before he hands over the reins.
He will also become secretary of the Royal and Ancient Golf Club of St Andrews in Scotland on October 1, 2015.
Dawson will have led the R&A - the joint -governing body of golf worldwide along with the United States Golf Association - and which also organises the Open Champion ship, for 16 years when he stands down next year.
Englishman Slumbers, a keen golfer and a member of the Worplesdon Golf Club in Surrey, was born in Brighton gained a BSc in Production Engineering and Economics from the University of Birmingham.
He qualified as a chartered accountant with Price Waterhouse in London before embarking on a career in investment banking.
He spent 12 years working for Salomon Brothers International in London and Hong Kong, becoming chief financial officer in Asia and then Europe.
In 1998, he joined Deutsche Bank and served in a number of senior executive roles.
He was appointed global head of Deutsche Bank's Investment Banking Operations in 2006.
The following year he was made worldwide head of Global Business Services.
"The R&A is one of the most influential bodies in world sport and I am delighted to be taking up this position," said 54-year-old Slumbers.
"Golf has always been close to my heart and I am very much looking forward to living and working in St Andrews.
"I am honoured to be appointed to lead the R&A and to serve such an historic and prestigious club."
Chairman of the R&A Wilson Sibbett added: "I would like to congratulate Martin on his appointment.
"He has enjoyed a long and successful career and will bring a great deal of experience to the position.
"He has a passion for golf and is absolutely committed to the work of The R&A in governing the game, running the Open and supporting development initiatives around the world."
While stepping down from his role with the R&A next year, 65-year-old Dawson will remain as President of the International Golf Federation and will oversee the sport's return to the Olympic Games at Rio 2016.
He also oversaw an historic vote by members of the Royal and Ancient Golf Club last month that allowed women to become members at St Andrews for the first time in the club's 260-year history.
Contact the writer of this story at [email protected]
September 2014: Royal and Ancient Golf Club votes to allow women members in historic ballot
April 2014: International Golf Federation chief receives Lifetime Achievement Award in Abu Dhabi
April 2014: Dawson to remain in charge of IGF despite stepping down as R&A chief executive