The Bank of England is planning to grow its northern hub in Leeds with plans for hundreds of jobs there in the next three years.
The Bank, which is headquartered in London’s Threadneedle Street, is aiming to increase the headcount at its Yorkshire site from 70 currently to at least 500 by 2027. That would amount to about a tenth of its overall staff.
It said it will offer staff voluntary internal relocations as well as hiring in Leeds to meet the target, although it will look to maintain its overall workforce of nearly 5,000. The move follows the Bank’s announcement in April 2021 that it was creating a new “northern hub” to boost its presence outside London and in October last year, it opened a newly expanded office in Leeds at Yorkshire House.
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Bank governor Andrew Bailey said: “Leeds is a thriving city where the Bank of England has had a significant presence for over 200 years.
“Committing to a permanent, expanded Leeds office is a fantastic opportunity for us better to represent the public, build stronger links with the local business community and help promote the work of the Bank to a wider pool of talented workers.”
Tracy Brabin, mayor of West Yorkshire, said: “This decision from the Bank of England is a major vote of confidence in our region, cementing our reputation as England’s leading banking capital outside of London, and opening up hundreds of local jobs for our talented graduates and professionals.
“By bringing decision-making power from London to the heart of the North, this move will benefit the entire country and help us rebalance our national economy.”
Leeds City Council leader James Lewis said: “Leeds is the UK’s second largest city for financial services, and a major hub for related professional services, this move further reinforces the city’s progress and influence and showcases the strength of Team Leeds and the partners across the private and public sectors, that come together to deliver brilliant results in a truly collaborative way, for the best impact on our residents.”
The Bank first opened a Leeds branch in 1827 under Thomas Bischoff, who was the Bank’s first agent. It has 12 Agencies across the UK, operating from a network of offices in Belfast, Birmingham, Bristol, Cardiff, Fareham, Glasgow, Leeds, Manchester, Newcastle and Nottingham.
Original artice – https://business-live.co.uk/all-about/yorkshire-humber
