Jimmy Dunne, a key broker of the original PGA Tour-PIF deal, appointed to the board of one of golf’s major players.
Jimmy Dunne, the Wall Street dealmaker who played a pivotal role in crafting the PGA Tour’s controversial agreement with the Saudi Arabian Public Investment Fund and later resigned from the Tour’s Policy Board, has been appointed to the board of directors of one of golf’s most influential companies.
A resident of West Palm Beach, Florida, Dunne was named Thursday to the board of Troon Golf, a company that manages nearly 1,000 golf clubs worldwide. He also serves as vice chairman and senior managing principal of Piper Sandler, an investment bank and financial services firm.
Dunne, a member of Augusta National Golf Club and president of the prestigious Seminole Golf Club, has played rounds with prominent figures like Phil Mickelson, Jordan Spieth, and retired NFL quarterback Tom Brady. After his appointment to the PGA Tour’s Policy Board last year, one magazine referred to him as golf’s “ultimate power broker.”
In a May call with Golfweek, Dunne explained his decision to step down from the Policy Board: “There’s a group that decides things, and I’m not in it, and I’m not consulted,” he said, referring to the board of PGA Tour Enterprises, the new for-profit entity. “I’m superfluous. It’s time to move on.”
Dunne, a native of Long Island and a graduate of Notre Dame, began his career on Wall Street at Bear Stearns before co-founding the investment banking firm Sandler O’Neill & Partners in 1988. The firm’s offices were on the 104th floor of the South Tower of the World Trade Center, and on the morning of September 11, 2001, 66 of his colleagues, including his close friend Christopher Quackenbush, were killed in the terrorist attack. Dunne, who had traveled to Bedford, New York, that day to attempt to qualify for the U.S. Mid-Amateur Championship, narrowly escaped. He later reflected, “Golf may have saved my life.”
In the aftermath of 9/11, Dunne and his firm were widely profiled for their resilience in rebuilding. “(Osama) Bin Laden set out to kill me and my colleagues,” Dunne told Newsday in 2002. “What would he like us to do? Build a new business, or quit and run?”
Dunne’s extensive financial experience includes leading Sandler O’Neill to become the largest independent investment banking firm focused on financial services, before its acquisition by Piper Sandler in 2020. He currently serves on several high-profile boards, including those of the University of Notre Dame, AIG, and Chime Financial.
“We are thrilled to welcome Jimmy Dunne to Troon’s board,” said Troon President and CEO Tim Schantz. “His leadership, experience, business acumen, and passion for golf will help the company continue to expand in and around golf and hospitality. Jimmy’s commitment to excellence aligns perfectly with Troon’s vision, and we’re confident he’ll have a strong impact on the company.”
Dunne, who joined the PGA Tour’s Policy Board in January 2023 at the request of Commissioner Jay Monahan, was deeply involved in negotiating the Tour’s Framework Agreement with Saudi Arabia’s PIF. The deal, announced in June, remains pending finalization.
“I’m excited to join Troon’s Board and work closely with Tim and his team,” Dunne said. “I’ve always enjoyed playing Troon golf courses, and the more I’ve learned about the company, the more impressed I’ve become. I’m looking forward to contributing in any way I can.”
Troon, based in Scottsdale, Arizona, has completed 14 acquisitions over the past decade and continues to expand its offerings to golf clubs worldwide.