Florida – Governor Ron DeSantis has nominated Chris Spencer to step into the role of Executive Director of the State Board of Administration (SBA) in Florida. Spencer, who is currently serving as the Director of Policy and Budget for the Executive Office of the Governor, is set to undergo a final review for his nomination. This evaluation will be conducted by a panel consisting of Governor DeSantis, Attorney General Ashley Moody, and Chief Financial Officer Jimmy Patronis, acting in their capacity as Trustees of the SBA, with the decision anticipated on March 26.
A New Chapter for Florida’s Financial Management
The State Board of Administration is a crucial entity in Florida, established by the state’s constitution to manage its investment portfolio. As part of the ongoing leadership transition within the SBA, Lamar Taylor, who has been serving as the Interim Executive Director and Chief Investment Officer, is set to continue in his role as a permanent SBA Chief Investment Officer.
Chris Spencer, of Tallahassee, has been a pivotal figure in the Executive Office of the Governor since July 2019. His role as Director of the Office of Policy and Budget has seen him manage the state’s substantial budget and the governor’s policy agenda, including an ambitious plan to reduce the state’s debt by over 25%. Spencer’s extensive experience, spanning various sectors including economic and insurance policy, and his tenure in the Florida Senate, underscore his capability to lead the SBA.
Holding three Bachelor of Arts degrees from Florida State University in Economics, International Affairs, and Political Science, Spencer’s educational background complements his professional experiences. His collaboration with state leaders and the SBA’s team over the past five years has been instrumental in enhancing the value of Florida’s pension assets, contributing to Florida’s ascent as the leading state economy in the nation.
Moreover, Spencer’s background in insurance positions him as a key player in supporting the Florida Hurricane Catastrophe Fund. This is critical for the continued stability and growth of the state’s property insurance market, an area of utmost importance for Florida’s residents and economic health.
