Carter Hammer will replace retiring Rachel Baum as finance director of Miami-Dade County, Mayor Carlos Alvarez announced Tuesday.

Hammer began work on Monday. He will be paid $205,000 annually.

Most recently he was chief financial officer for the Palm Beach County clerk and comptroller, supervising more than 150 employees, as well as managing an investment portfolio of more than $2 billion and a debt portfolio of nearly $2 billion. Before that, he was CFO at ILS Technology, formerly a division of IBM. He also worked in finance jobs at other private firms and was a budget and fiscal auditor at the American Embassy in Paris.

Hammer earned master’s degrees in accounting and business administration at Florida Atlantic University, and a bachelor’s of business administration at the University of Miami. He currently is obtaining chartered financial analyst and certified public accountant designations.

Baum is retiring at the end of this year after 31 years in various finance positions with Miami-Dade County.

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