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President Trump Will Tap Richard Spencer, Financier And Former Marine Corps Captain, For Navy Secretary

(White House/Flickr)
June 05, 2017

The White House announced last week that President Donald Trump will nominate Richard Spencer as Navy Secretary.

(CBS News/Twitter)

This is Trump’s second nominee for the position, as his first, Philip Bilden, withdrew from consideration in February over concerns about separating his nominated post from business interests, as well as privacy.

The Senate must now approve the President’s selection. Spencer would be Trump’s second service secretary to be confirmed, following Air Force Secretary Heather Wilson.

The President has not yet selected an Army Secretary nominee, after his previous two picks withdrew.

Spencer, a Wyoming resident, was most recently the managing director of a venture capital firm, Fall Creek Management, which is a private management consulting company.

He is the former Vice Chairman and Chief Financial Officer of Intercontinental Exchange, Inc., an electronic commodity futures exchange, from 2001 through 2008.

Prior, Spencer was President of Crossroads Investment Management, LLC, a venture capital and private equity fund-of-funds investment firm.

Before that, Spencer worked on Wall Street for 16 years for A.G. Becker, Paine Webber, Goldman Sachs, Bear Stearns, Merrill Lynch and Donaldson, Lufkin, Jenrette.

He graduated from Rollins College in 1976 with a degree in economics, and also completed the Advanced Management Program at the Fuqua School of Business at Duke University.

Spencer joined the U.S. Marine Corps upon graduation and served as Naval Aviator until he was honorably discharged in 1981 as a captain.

(San Diego Union-Tribune/Twitter)

The San Diego Union-Tribune posted “5 things to know about Richard Spencer,” which highlights his military philanthropy.