Richard V. Spencer of Wyoming was sworn in as the 76th secretary of the Navy Aug. 3, 2017.
A Connecticut native, Spencer graduated from Rollins College in 1976 with a Bachelor of Arts in Economics. Upon graduation he joined the United States Marine Corps and proudly served as an H-46 pilot until 1981 before departing active duty to enter the private finance sector.
Spencer worked on Wall Street for 16 years with responsibilities centered on investment banking services and a particular focus on strategic advisory services and capital market underwriting. After three years as president of Crossroads Investment Management LLC, a leading venture capital and private equity fund-of-funds investment firm, Spencer joined Intercontinental Exchange, Inc. (NYSE-ICE), the leading electronic commodity futures exchange, as chief financial officer. ICE introduced transparency and risk management to the global derivatives markets. As vice chairman he was responsible for the transition of the company from private to public, including initial board of directors recruitment, the initial public offering and the subsequent three secondary offerings, financial reporting, strategy development and implementation, and human resources management.
From 2007 to 2017 Spencer was the managing director of Fall Creek Management, LLC.
Spencer served on the Board of Directors of Global Atlantic Financial Group, ENGAGEcx LLC, 86Borders LLC and StarPound Technologies. His charitable activities include board service on the Marine Corps Heritage Foundation, The Community Foundation of Jackson Hole, Teton County Search & Rescue Foundation, Veterans Campaign/Center for Second Service, and Honoring Our Vets. Spencer served on the Defense Business Board and the Chief of Naval Operations Executive Panel.