- The Washington Times - Saturday, June 3, 2017

President Trump announced Friday that he was sending up a new nomination for Secretary of the Navy, picking investment banker and former Marine Corps Capt. Richard V. Spencer for the job.

The president had previously tapped Philip Bilden, also a finance executive, for the top civilian post at the Navy, but Mr. Bilden withdrew his name in February, citing difficulty divesting financial holdings to comply with government ethics requirements.

Like Mr. Bilden, the president’s new nominee is largely an outsider to Washington.

Mr. Spencer, who lives in Wyoming, served as a Marine aviator from 1976 to 1981, according to a bio on the website for Center for New American Security, where he serves on the advisory board.

A 12-year veteran of the finance industry, Mr. Spencer most recently served as a managing partner for investment firm Fall Creek Management LLC. He previously was vice chairman and chief financial officer for Intercontinental Exchange Inc., and served as president of Crossroads Group LLC before that.

He also spent five years on the Defense Business Board, most recently as vice chairman.

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