Gov. Ron DeSantis and the Florida Cabinet confirmed Chris Spencer, former Director of Policy and Budget for the Executive Office of the Governor, as the new Executive Director of the State Board of Administration, with his start date pending finalization of the state’s budget.

Gov. Ron DeSantis and the members of the Florida Cabinet on Tuesday confirmed former Director of Policy and Budget for the Executive Office of the Governor (EOG) Chris Spencer to become the next Executive Director of the State Board of Administration.

Per DeSantis, the announcement of Spencer’s start date is still to be determined, contingent on the speed at which the administration finalizes the authorization of the state’s budget for the coming Fiscal Year. The governor, who nominated Spencer for confirmation last week, was met with full support by Florida’s Cabinet, comprised of state Chief Financial Officer Jimmy Patronis, Florida Attorney General Ashley Moody, and Florida Commissioner of Agriculture Wilton Simpson.

“He has been a part of our administration since day one, he has served as Director of Policy and Budget for the past five years, and I think that his job was a ten out of ten,” said the governor. “We’re sad to lose him but I think this will be really good.”

With the appointment, Spencer will succeed Lamar Taylor, who has served as the interim Director since 2021.

Spencer has served as the Director of the Office of Policy and Budget since July 2019. His responsibilities include overseeing the development and implementation of Florida’s state budget and the Governor’s policy agenda.

Per EOG, Spencer has a background in both the public and private sectors, with experience in economic and insurance policy, including time spent in the Florida Senate. He earned three Bachelor of Arts degrees from Florida State University, specializing in Economics, International Affairs, and Political Science.

The Florida State Board of Administration manages and invests Florida’s assets, ensuring the state’s financial resources are handled responsibly. Led by a Board of Trustees consisting of the Governor, the Chief Financial Officer, and the Attorney General, the SBA’s key responsibilities include managing the Florida Retirement System (FRS) Pension Plan, which serves numerous state and local government employees. Additionally, the SBA invests in a variety of assets to generate returns while keeping risks low, supporting the pension system and other state initiatives.

The SBA also oversees the Florida Hurricane Catastrophe Fund, helping to stabilize the state’s insurance market amid hurricane damage.