UK Olympics

The Times reports that chief operating officer of Goldman Sachs Europe, Paul Deighton, will head up the Olympic Games organising committee.

The 458th richest man in the UK, (with £100m of his wealth attributable to his shares in the investment bank) will take up the £300,000 a year position next year.

Lord Coe commented that:

“We selected Paul because of his experience in leading large international organisations and projects and his track record of managing and growing large teams of people in complex and diverse environments.

Although he is not a ‘team sports player’ at this stage, with a sound financial foundation required for the development process, this would seem exactly the correct approach.