Trustee Company Ltd and Transport Trading Ltd (TTL), and London Underground Limited is a subsidiary of TTL.

[62] The TfL Board is appointed by the Mayor of London. The Mayor also sets the structure and level of public transport fares in London. However the day-to-day running of the corporation is left to the Commissioner of Transport for London. The current Commissioner is Peter Hendy.[63] The Mayor is responsible for producing an integrated transport strategy for London and for consulting the GLA, TfL, local councils and others on the strategy. The Mayor is also responsible for setting TfL's budget. The GLA is consulted on the Mayor's transport strategy, and inspects and approves the Mayor's budget. It is able to summon the Mayor and senior staff to account for TfL's performance. London TravelWatch, a body appointed by and reporting to the Assembly, deals with complaints about transport in London.[64]