London Olympics gets new chief executive

Goldman Sachs banker Paul Deighton has been named as chief executive of the London Olympic Games Organising Committee (LOCOG).

His appointment comes after a three-month international search, which saw the 49-year-old Londoner triumph over hundreds of candidates.

LOCOG chairman Sebastian Coe said: "We selected Paul because of his experience in leading large international organisations and projects and his track record of managing large teams in complex environments."

Deighton will leave his role as chief operating officer of Goldman Sachs' European businesses in the spring.

Last week a Government-commissioned report predicted the UK would benefit from more than £500m of added tourism revenue as a result of the 2012 Olympics.

By Chris Druce

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