Dive Brief:

• Gov. Ron DeSantis appointed state Sen. Blaise Ingoglia (R-Spring Hill) to become Florida’s next CFO, one of the country’s highest profile state finance chiefs, announcing his pick in a Wednesday morning press conference.
• The seat was vacated late last year when Jimmy Patronis stepped down to run for and win a congressional seat previously held by former Republican Rep. Matt Gaetz, after Gaetz was nominated by President Donald Trump to become attorney general.
• DeSantis called Ingoglia a “warrior,” saying he would come in with “a head of steam” and get things done rather than just make promises. Ingoglia thanked DeSantis and pledged to stand for “fiscal sanity,” saying he would focus on keeping state spending down. “I have a history of calling out wasteful spending because I truly believe government should be accountable,” Ingoglia said.

Dive Insight:

In choosing Ingoglia, DeSantis passed over a candidate backed by Trump in favor of a longtime ally who will now sign the state’s checks and have the power to audit how people are using state dollars, The Miami Herald reported. The state finance chief also makes $140,000 a year, serves on the state Cabinet and leads the state Department of Financial Services which investigates insurance fraud, according to the report.  

Patronis drew a big spotlight while serving as CFO, using his role as a kind of bully pulpit to battle insurance companies, as well as to launch his congressional bid. While most state CFOs remain behind the scenes, Florida’s model may reflect a broader shift in public expectations, one in which financial leadership is expected to not only safeguard assets but also communicate a strong ideological stance, according to Shawn Cole, president of executive search firm Cowen Partners.  

“Jimmy Patronis, Florida’s former CFO, regularly made headlines for weighing in on national culture wars, corporate boycotts, and ESG investing, all topics far beyond typical state financial duties,” Cole said in an email. “Still, Florida remains more the exception than the rule.” 

Nick Araco Jr., CEO of The CFO Alliance, agreed that the high-profile nature of Florida’s CFO role is something of an outlier. However, state government as well as corporate finance chiefs are both seeing their public roles change, he added. 

“Today’s state CFO — including this one in Florida — is operating in a spotlight that never turns off. Managing finances is just the start — they're now managing public trust, economic confidence, and political perception in a volatile environment. And Florida’s version of this role has become a case study in that evolution,” Araco said in an email. 

Indeed, the attention that the Florida CFO drew reflects a broader trend for all finance leaders who are taking on a greater role as the face of their organizations, whether inside companies or in government, Araco said. 

“It’s a preview of what’s coming for CFOs everywhere,” Araco said. “The CFOs in our network are seeing the same thing: they’re being asked to lead through economic whiplash, digital transformation and intense workforce disruption — with a microphone in their face and stakeholders watching.”