Paul Clive Deighton, Baron Deighton,

KBE KBE may refer to: * Knight Commander of the Most Excellent Order of the British Empire, post-nominal letters * Knowledge-based engineering Knowledge-based engineering (KBE) is the application of knowledge-based systems technology to the domain o ...

(born 18 January 1956) is a British

Conservative Conservatism is a cultural, social, and political philosophy that seeks to promote and to preserve traditional institutions, practices, and values. The central tenets of conservatism may vary in relation to the culture and civilization in ...

politician who served as Commercial Secretary to HM Treasury from January 2013 to May 2015. Deighton is a former

investment banker Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated wit ...

who previously served as Chief Executive of the

London Organising Committee of the Olympic and Paralympic Games The London Organising Committee of the Olympic and Paralympic Games (LOCOG) was the organisation responsible for overseeing the planning and development of the 2012 Summer Olympic and Paralympic Games. It was jointly established by the UK Gove ...

(LOCOG), the organisation responsible for planning the 2012 Summer Olympics and

Paralympics The Paralympic Games or Paralympics, also known as the ''Games of the Paralympiad'', is a periodic series of international multisport events involving athletes with a range of physical disabilities, including impaired muscle power and impaired ...

. Deighton is now Chairman of

The Economist Group The Economist Group (legally The Economist Newspaper Limited) is a media company headquartered in London, England. It is best known as publisher of ''The Economist'' newspaper and its sister lifestyle magazine, ''1843''. The Economist Group spec ...

Early life

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 Trinity College is a constituent college of the University of Cambridge. Founded in 1546 by King Henry VIII, Trinity is one of the largest Cambridge colleges, with the largest financial endowment of any college at either Cambridge or Oxford. ...

, graduating in 1978 with a

Bachelor of Arts Bachelor of arts (BA or AB; from the Latin ', ', or ') is a bachelor's degree awarded for an undergraduate program in the arts, or, in some cases, other disciplines. A Bachelor of Arts degree course is generally completed in three or four yea ...

degree in

economics Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analy ...

Career

Banking

Deighton began his career at

Bank of America The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank ...

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 New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * '' ...

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 A chief operating officer or chief operations officer, also called a COO, is one of the highest-ranking executive positions in an organization, composing part of the " C-suite". The COO is usually the second-in-command at the firm, especially if t ...

for Europe.

Olympics London 2012

Deighton was appointed CEO of LOCOG, announced on 19 December 2005. Deighton 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. His approach included early winning of sponsorships, and high levels of staff training.

After the Olympics

In September 2012 Deighton was appointed by Prime Minister

David Cameron David William Donald Cameron (born 9 October 1966) is a British former politician who served as Prime Minister of the United Kingdom from 2010 to 2016 and Leader of the Conservative Party from 2005 to 2016. He previously served as Leader o ...

as junior minister in HM Government as Commercial Secretary to the Treasury, with effect from January 2013. The announcement stated that he would lead on infrastructure and economic delivery, with responsibility for implementing the Government's National Infrastructure Plan and supporting the

Culture Secretary The secretary of state for digital, culture, media and sport, also referred to as the culture secretary, is a secretary of state in the Government of the United Kingdom, with overall responsibility for strategy and policy across the Department f ...

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, he was created a

life peer In the United Kingdom, life peers are appointed members of the peerage whose titles cannot be inherited, in contrast to hereditary peers. In modern times, life peerages, always created at the rank of baron, are created under the Life Peerages ...

on 1 November 2012 as Baron Deighton, of Carshalton in the

County of Surrey Surrey () is a ceremonial and non-metropolitan county in South East England, bordering Greater London to the south west. Surrey has a large rural area, and several significant urban areas which form part of the Greater London Built-up Area. W ...

, and introduced in the

House of Lords The House of Lords, also known as the House of Peers, is the upper house of the Parliament of the United Kingdom. Membership is by appointment, heredity or official function. Like the House of Commons, it meets in the Palace of Westminster ...

the same day.House of Lords Minutes of Proceedings for Thursday 1 November 2012
/ref> Deighton was succeeded as Commercial Secretary to the Treasury by Jim O'Neill in May 2015. In March 2016 Deighton was announced as the new Chairman of London Heathrow Airport. In March 2018 it was announced that Deighton would become chairman of the board of

COVID-19 pandemic

On 19 April 2020 when it was announced that the death toll in the UK alone of the

COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identified ...

had reached 15,000 over the three months precedent, Deighton was appointed "PPE tsar" by

Boris Johnson Alexander Boris de Pfeffel Johnson (; born 19 June 1964) is a British politician, writer and journalist who served as Prime Minister of the United Kingdom and Leader of the Conservative Party from 2019 to 2022. He previously served as F ...

, who himself was recovering from a bout in the

intensive care unit 220px, Intensive care unit An intensive care unit (ICU), also known as an intensive therapy unit or intensive treatment unit (ITU) or critical care unit (CCU), is a special department of a hospital or health care facility that provides intensi ...

with the disease.

Pandora Papers Scandal

Deighton was amongst those named in the Pandora's Papers scandal, as he abused his position as a Tory peer.

Honours

In 2012, Deighton received the

Olympic Order The Olympic Order, established in 1975, is the highest award of the Olympic Movement. It is awarded for particularly distinguished contributions to the Olympic Movement, i.e. recognition of efforts worthy of merit in the cause of sport. Traditi ...

from Count

Jacques Rogge Jacques Jean Marie Rogge, Count Rogge (, ; 2 May 1942 – 29 August 2021) was a Belgian sports administrator and physician who served as the eighth President of the International Olympic Committee (IOC) from 2001 to 2013. In 2013, Rogge beca ...

, and received the

Paralympic Order The Paralympic symbols are the icons, flags, and symbols used by the International Paralympic Committee to promote the Paralympic Games. Motto The Paralympic motto is "Spirit in Motion". The motto was introduced in 2004 at the Paralympic Games i ...

from the International Paralympic Committee. Deighton was appointed

Knight Commander of the Order of the British Empire The Most Excellent Order of the British Empire is a British order of chivalry, rewarding contributions to the arts and sciences, work with charitable and welfare organisations, and public service outside the civil service. It was established o ...

in the

2013 New Years Honours The New Year Honours 2013 were appointments by some of the 16 Commonwealth realms to various orders and honours to recognise and reward good works by citizens of those countries. The New Year Honours are awarded as part of the New Year celebrati ...

for services to the London 2012 Olympic and Paralympic Games.

Personal life

Deighton and his wife met whilst working at Goldman Sachs. They have two adult sons. Deighton likes sport, supporting

Arsenal F.C. Arsenal Football Club, commonly referred to as Arsenal, is a professional football club based in Islington, London, England. Arsenal plays in the Premier League, the top flight of English football. The club has won 13 league titles (inclu ...

References

External links

Lord Deighton
at www.parliament.uk {{DEFAULTSORT:Deighton, Paul 1956 births Living people Alumni of Trinity College, Cambridge British bankers Conservative Party (UK) life peers Knights Commander of the Order of the British Empire People from Carshalton Recipients of the Olympic Order Recipients of the Paralympic Order People educated at Wallington County Grammar School Chief operating officers Life peers created by Elizabeth II