Chris Spencer Named Executive Director of Florida SBA

Chris Spencer has been appointed as executive director of the Florida State Board of Administration, ending a vacancy of more than two years in the position. The Florida cabinet unanimously approved the nomination of Spencer in a vote on Tuesday.

Florida Governor Ron DeSantis nominated Spencer, currently the governor’s policy and budget director, to the position last week.

SBA Interim Executive Director and Interim CIO Lamar Taylor was appointed as the fund’s permanent CIO. Taylor has been serving in the interim positions since the September 2021 retirement of Ash Williams, who served as both executive director and CIO from 2008 to 2021. Williams is now a vice chairman at J.P. Morgan Asset Management.

Spencer will oversee Florida’s $250 billion in investments, with more than 30 funds that include the defined contribution FRS investment Plan, the state’s defined benefit FRS Pension Plan, Florida PRIME and Florida Hurricane Catastrophe Fund. Taylor will manage the funds’ investments.

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Spencer has been DeSantis’ director of policy and budget for the last five years and worked as an aide and campaign manager to Republican officials and candidates. Spencer earned bachelor of arts degrees in economics, international affairs and political science from Florida State University.