Gov. Ron DeSantis nominated Chris Spencer, the current Director of Policy and Budget for the Executive Office of the Governor, to become the next Executive Director of the State Board of Administration, pending final approval by the board’s Trustees on March 26.

Gov. Ron DeSantis on Friday nominated 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.

Spencer’s nomination will be brought before DeSantis, Attorney General Ashley Moody, and Chief Financial Officer Jimmy Patronis, sitting as the Trustees of the State Board of Administration, for final approval on March 26., according to a prepared release issued by EOG.

“Over the past five years, Chris has worked closely with state leaders and the professional team of the SBA to grow the value of Florida’s pension assets as Florida becomes the number one state economy in the nation,” the release states. “His background in insurance also prepares Chris to help support the efforts of the Florida Hurricane Catastrophe Fund as it is vital to the continued stabilization and growth of Florida’s property insurance market.”

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.