ST. ANDREWS, Scotland (AP) — The Royal & Ancient Golf Club has appointed business executive Martin Slumbers as its new secretary and the chief executive of its business arm.

Slumbers succeeds Peter Dawson, who is retiring next September after 16 years.

He will start in March as the chief executive designate so he can spend six months working alongside Dawson. The R&A Golf Club govern golf worldwide except in the United States and Mexico, while the R&A is the business that runs the British Open and other championships.

Slumbers, 54, was the chief financial officer in Asia and then Europe for Salomon Brothers International, and most recently was in charge of global business services for Deutsche Bank.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.