Paul Deighton, Baron Deighton
|The Right Honourable
The Lord Deighton
|Deighton speaking at the Moët Hennessy Financial Times Club dinner in London, 2011|
|Commercial Secretary to the Treasury|
3 January 2013
|Preceded by||The Lord Sassoon|
18 January 1956 |
Carshalton, Surrey, UK
|Alma mater||Trinity College, Cambridge|
Paul Clive Deighton, Baron Deighton, KBE (born 18 January 1956) is a British politician who has served as Commercial Secretary to HM Treasury since January 2013. Deighton is a former investment banker who previously served as Chief Executive of the London Organising Committee of the Olympic and Paralympic Games (LOCOG), the organisation responsible for planning the 2012 Summer Olympics and Paralympics.
Deighton was born in Carshalton, Surrey on 18 January 1956. He was educated at Wallington County Grammar School before going on to Trinity College, Cambridge, graduating in 1978 with a Bachelor of Arts degree in economics. He is married and has two adult sons.
Deighton started out at Bank of America and moved on to Security Pacific National Bank, where he specialised in corporate banking. In 1983, he joined investment bank Goldman Sachs, initially based in London. He spent two years at their New York office from 1994, where he was joint Head of Controllers. In 1996 he returned to London, where he was promoted to Head of European Operations and became a partner in the firm. In 2000 he became their Chief Operating Officer for Europe.
Deighton was appointed CEO of LOCOG after applying to an advertisement in The Economist. His appointment was announced on 19 December 2005. Deighton, a sports enthusiast, commented that it was "the only job I would have considered leaving Goldman Sachs for". He has been credited with contributing to the success of the London Olympics. Deighton received the Olympic Order from Count Jacques Rogge in 2012.
In September 2012 Deighton was appointed by Prime Minister David Cameron a junior minister in HM Government as Commercial Secretary to the Treasury, with effect from January 2013. He will lead on infrastructure and economic delivery, including responsibility for implementing the Government's National Infrastructure Plan and supporting the Culture Secretary with the 2012 Olympics legacy. The delay in his taking up the appointment was necessary to allow him to complete his duties at LOCOG.
To make him accountable to Parliament when he does take up the post, he was created a life peer on 1 November 2012 as Baron Deighton, of Carshalton in the County of Surrey, and introduced in the House of Lords the same day.
Deighton was appointed Knight Commander of the Order of the British Empire in the 2013 New Years Honours for services to the London 2012 Olympic and Paralympic Games.
- House of Lords Minutes of Proceedings for Thursday 1 November 2012
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