Gov. Ron DeSantis desires to position Chris Spencer, who’s at the moment serving as his Director of Coverage and Finances, as the following Government Director of the State Board of Administration (SBA), which manages the state’s funding funds.

The transfer comes two and a half years after the departure of Ash Williams, the earlier head of the SBA, who left on Sept. 30, 2021, to be Vice President at J.P. Morgan Asset Administration. Lamar Taylor, the SBA’s Chief Working Officer, has served as Interim Government Director since then. Taylor is slated to proceed because the SBA’s Chief Funding Officer, in keeping with a press launch from DeSantis’ Workplace.

Throughout a Cupboard assembly in January 2023, the search was opened for a everlasting Government Director on the SBA, with an preliminary 30-day window to simply accept purposes. However the search stretched on for greater than a yr.

The SBA has $250.3 billion in property that it manages, with the principle fund because the Florida Retirement System, which held $260 billion on the finish of 2023. It additionally oversees the Florida Hurricane Disaster Fund, or Cat Fund, which acts as a reinsurance fund for insurers.

Spencer has served as DeSantis’ price range chief since he took workplace in 2019, organizing the annual price range suggestions, overseeing efforts to evaluation veto lists and managing DeSantis’ plan to scale back state debt by 25%.

He beforehand served as a legislative assistant to former Sen. Jeff Brandes, a St. Petersburg Republican, and to former Rep. Clay Ingram, a Pensacola Republican. Spencer served a stint on the GrayRobinson lobbying agency earlier than becoming a member of DeSantis’ transition crew as an economics coverage advisor forward of DeSantis taking workplace in January 2019.

Spencer has levels in economics, worldwide affairs and political science from Florida State College.

The Cupboard, comprised of Lawyer Basic Ashley Moody, Agriculture Commissioner Wilton Simpson and Chief Monetary Officer Jimmy Patronis, will think about the nomination, together with DeSantis, and its subsequent assembly on Tuesday.

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