Washburne, CEO of real-estate investment company Charter Holdings and a co-founder of M Crowd Restaurant Group, most recently worked on GOP presidential nominee Mitt Romney's campaign as his Texas finance co-chairman.
Prior to that, he had been former Minnesota Gov. Tim Pawlenty's (R ) national finance chair, and acted as a bundler for George W. Bush's campaigns in 2000 and 2004.
RNC Chairman Reince Priebus said in a statement that Washburne's business background will be put to good use in his new role as finance chairman.
"Ray brings a tremendous amount of fundraising expertise to the RNC as well as operations experience from his role as president and CEO of Charter Holdings. That experience will be an invaluable asset as the RNC begins investing in a permanent infrastructure across the country including ground game, engagement in key communities, data and technology," he said.