The former chief executive of the North Northants Development Company took over from Lorraine Baldry this month and will serve for three years. Lane is also on the board of the Homes and Communities Agency.
He will supervise the regeneration of the Lower Lea Valley and London Riverside and is responsible for helping secure 40,000 more homes and 28,000 jobs in east London by 2016.
He will oversee £237 million of investment and seek to bring in a further £1.8 billion from the private sector. "The credit crunch reinforces the need to get down to delivering essential infrastructure and to intervene in the property market to mitigate its impact," he said.