LONDON (AP) — London 2012 organizers appointed banking executive Margaret Ford to lead the company created to oversee the legacy of the city's Olympics.

Ford will be paid 95,000 pounds a year ($140,144; €105,729) to work three or four days per week to ensure that the Olympics, which are expected to cost 9.3 billion pounds ($13.7 billion; €10.3 billion) to stage, benefit the British capital after the showpiece is over.

She will quite her job at Royal bank of Canada on May 1 to chair the legacy body.

"Success in creating a vibrant, commercial, cultural and sporting park in the years after the Olympics with the strong engagement of local communities will be one of the most important tests of success in meeting our big ambitions for the games," government Olympics minister Tessa Jowell said Tuesday.