Chris Spencer is selected by DeSantis to head Florida investments

Gov. Ron DeSantis has tapped Chris Spencer, his budget chief, to oversee the state’s investments.

DeSantis announced Friday that he nominated Spencer, the governor’s director of policy and budget since July 2019, to become executive director of the State Board of Administration.

DeSantis, Attorney General Ashley Moody and state Chief Financial Officer Jimmy Patronis, who serve as trustees of the State Board of Administration, will consider confirmation of Spencer to the job during a meeting Tuesday.

The position has been held on an interim basis since September 2021 by Lamar Taylor, who will remain as chief investment officer, according to the governor’s office.

The State Board of Administration invests money in the Florida Retirement System, along with 25 other funds, and manages the Florida Hurricane Catastrophe Fund.

As of mid-February, overall investments totaled about $225.4 billion, with the retirement system making up about 84 percent of the assets.

Before joining the governor’s office, Spencer spent a little more than a year as a government consultant for the GrayRobinson legal and lobbying firm.

Spencer also worked as an aide to former state Sen. Jeff Brandes and former state Rep. Clay Ingram.

Spencer is paid $174,825 a year in his current job.

Ash Williams, the longtime head of the State Board of Administration, was paid $575,000 a year when he retired in 2021.