The unpaid Ministerial role will see Deighton (pictured above) take on a wide range of duties related to business, and the financial sector in particular, with his prime responsibility being to get the British economy moving.

However, the 56-year-old Cambridge University graduate, who was valued at £95 million ($150 million/€120 million) by the Sunday Times Rich List, promised he is fully focused on finalising the London 2012 project before taking up his post at the House of Lords early next year.

"At the moment I'm very focused on making sure we finalise what we've started with the Olympic and Paralympic Games, that we complete the Paralympic Games through to Sunday and then we'll hand over the legacy to those who are taking it forward in the best possible shape," Deighton said.

"My reason for taking the new job is really based upon my experience of doing this job.

"I've been lucky enough to be in the middle of delivering what's been an incredible project.

"I've seen just fantastic people coming to work together in the most motivated way I've ever seen people work.

"I've seen collaboration across the private and the public sector in order to accomplish that in just an inspiring way.

"If any of that in any shape or form can be taken forward to help us build up the economy, then that clearly will be a great thing.

"So it's a broad role in the Treasury to help get the economy moving, with a specific focus on infrastructure projects.

"I think what we've been able to do here is to get the collaboration between the private and public sector and to integrate them very effectively.

"That's what I hope to be able to do there too."

Paul Deighton speaks with former British Prime Minister Gordon Brown during the Opening Ceremony of the London 2012 Olympic Games

Deighton added that he would be taking a different approach to his work in Government, as he will not be facing a deadline to deliver as he has with the London 2012 project.

"When you have a project with an immovable deadline, you have to be urgent in every aspect of your delivery," he said.

"I've been rather impatient with everybody involved with the project; otherwise it wouldn't have been ready.

"Again, the nature of my job is really to get that urgency injected.

"I am moving into the public sector but part of what I'm going to be trying to do is to take advantage of what we've learned in this project and the collaborations between the public and the private sector, because the Games are a very good example of how powerful that can be if done correctly."

Contact the writer of this story at [email protected]


Related stories
September 2012: Coe backs Deighton's Treasury appointment
September 2012: London 2012 chief executive given Government role by British Prime Minister