Florida - Tuesday March 26, 2024: Governor Ron DeSantis nominated Chris Spencer to become the next Executive Director of the State Board of Administration (SBA). Spencer is currently the Director of Policy and Budget for the Executive Office of the Governor. Spencer’s nomination will be brought before Governor 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.
The State Board of Administration (SBA) is Florida’s constitutionally created investment management organization. SBA Interim Executive Director and Chief Investment Officer Lamar Taylor will continue as the permanent SBA Chief Investment Officer.
Chris Spencer, of Tallahassee, currently serves as the Director of the Office of Policy and Budget in the Executive Office of the Governor, a position he’s held since July 2019. In this role, he’s managed the development and implementation of the state’s multi-billion-dollar budget and the policy agenda of the Governor, and he's overseen the Governor’s plan to reduce the state’s debt by more than 25%. Previously, he’s served in various roles both in the public and private sector in economic and insurance policy, including several years in the Florida Senate. Spencer holds three Bachelor of Arts degrees from Florida State University in Economics, International Affairs, and Political Science.
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. 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.