President Trump will nominate Richard V. Spencer, a former Marine Corps captain, to serve as the next secretary of the Navy, the White House announced June 2. Spencer, a Wyoming native, most recently was a managing partner of Fall Creek Management LLC, an investment company located in his home state. He also held executive positions at Intercontinental Exchange, Inc., Crossroads Group LLC. President Trump’s first nominee to serve as Navy secretary, Philip Bilden, withdrew his name from consideration earlier this year.