Former Deutsche Bank Americas CEO and PGA of America CEO Brings Decades of Executive Experience in Finance, Technology, and Sports.
New York, NY, September 15, 2025 – [NEWS DIRECT]Rafferty Holdings has appointed Seth Waugh as Chairman, effective immediately. Waugh brings an exceptional track record of senior leadership across finance, technology, and sports industries as Rafferty Holdings enters its next phase of growth and innovation.
"We are thrilled to welcome Seth to Rafferty Holdings," said Michael Rafferty, CEO of Rafferty Holdings. "His proven ability to lead complex organizations through periods of transformation and growth, combined with his strategic vision and deep industry expertise, makes him an ideal partner as we execute our ambitious growth plans to take Rafferty Holdings to the next level. This is an exciting time for our business, and Seth will help build out our asset management, venture capital, and real estate businesses, including potential acquisitions for our RIA business and opportunities in adjacent markets."
Waugh joins Rafferty Holdings following his tenure as CEO of the PGA of America, where he successfully guided one of the world's largest sports organizations and its more than 30,000 members. Prior to his role with the PGA, he served as CEO of Deutsche Bank Americas for a decade, leading the firm through a period of unprecedented growth and expansion. During his 13-year tenure with Deutsche Bank, he also served as chairman of the Deutsche Bank Americas Advisory Board.
His distinguished career includes senior leadership positions at Silver Lake, Merrill Lynch, and Salomon Brothers. Waugh has served on numerous boards, including Franklin Templeton, Workday, and the FINRA Board of Governors,
"I'm excited to join Rafferty Holdings at this pivotal moment in the company's evolution," said Waugh. "After decades of impressive success, the firm has built a strong foundation, and I look forward to build upon that strength to drive continued innovation and strategic growth.”
Beyond his professional achievements, Waugh has demonstrated a strong commitment to philanthropy and community service through board roles with the 9/11 Memorial & Museum, YMCA of Greater New York, and Multiple Sclerosis Society of Greater New York, among other organizations. Recently, Seth led an effort to revamp West Palm Beach’s municipal golf course, The Park. After raising $56mm for improvements, The Park is now the most welcoming, most complete, and most inclusive place in all of golf. The 190-acre property is owned by the residents — and, like a park, it is open to all.
Waugh holds a Bachelor of Arts degree in Economics and English from Amherst College.
About Rafferty Holdings
Rafferty Holdings is a diversified holding company with a significant presence in asset management and fintech. The firm is committed to identifying and capitalizing on high-value opportunities across various industries. Under the Rafferty Holdings umbrella are operating companies Direxion Investments (~$55bn AUM) and Hilton Capital Management (~$3bn AUM) and investments arms Raff Ventures and Rafferty Real Estate. For more info, visit https://www.raffertyholdings.com/ or follow us on LinkedIn.
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