PALM BEACH GARDENS, Fla. (Nov. 13, 2015) – Seth Waugh, Vice Chairman of Business Development for Florida East Coast Industries (FECI), has joined the PGA Board of Directors as an Independent Director. He was elected to the Board today at the 99th PGA Annual Meeting, held at PGA National Resort & Spa, and will serve a three-year term.
Waugh, of North Palm Beach, Florida, joined the management of FECI in 2014. Previously, he spent 13 years at Deutsche Bank (2000-13), during which time he operated the sales and trading businesses in the U.S., before being named CEO of the Americas Region and leading the Bank for a decade in that position. He currently is chairman of the Deutsche Bank Americas Advisory Board, an external strategic advisory team conceived under his leadership.
In 2002, Waugh created the Deutsche Bank Championship, an event on the PGA TOUR. Since 2007, the championship has been one of the four FedEx Cup playoff events.
“I’m very flattered and honored to be joining the PGA Board of Directors. The game of golf has become a large and important part of my life in many ways,” said Waugh. “I respect all the wonderful traditions, values and quality that it adds to life, which make it the most interesting game on earth.
“The PGA has always been such a vital contributor to all that is good about the game, and I look forward to serving toward both embracing the future and building on its glorious past. The PGA and all its members are in a unique position to contribute to the vision and growth of the game, which is why it is so exciting to me. "
Born in Ayer, Massachusetts, Waugh is a graduate of Amherst College, where he earned dual Bachelor of Arts degrees in Economics and English. Prior to joining Deutsche Bank, Waugh was CEO of Quantitative Financial Strategies (QFS), a $2.5 billion hedge fund based in Greenwich, Connecticut. He also spent 11 years in various leadership roles at Merrill Lynch, culminating in serving as Co-Head of Global Debt Markets. Earlier in his career, Waugh managed the Corporate Bond and International Trading desks at Salomon Brothers.
Waugh’s philanthropic endeavors have included serving on the boards of the YMCA of Greater New York, the Multiple Sclerosis Society of Greater New York; the Executive Committee of Partnership for New York City; and the board of St. Vincent’s Services of Brooklyn; the Local Initiatives Support Corporation; and Harlem Village Academies.
He was chair of the Board of Trustees at the Lawrenceville School in New Jersey, and serves on the Board of Trustees of Wake Forest University. Waugh also is a Board member of the World Trade Center Memorial Foundation and Franklin Templeton Investments, as well an Advisory Board member for Workday.
Waugh and his wife, Sheila Clancy Waugh, are the parents of a son, Clancy, who plays on the Wake Forest University golf team.
The PGA Board of Directors is composed of the Association’s president, vice president, secretary, honorary president, and 17 directors. The directors include representatives from each of the PGA’s 14 districts, two Independent Directors and a member of the PGA Tour.
New District Directors are elected by their local PGA Sections.