Bank of England to expand its presence in Leeds

The Bank of England is planning to increase staffing at its northern hub.

At least 500 employees will be based in its Leeds office by 2027, equating to around one in ten of the Bank’s total workforce.

This target will be achieved through a combination of new hiring in the northern city and some voluntary relocations. Overall, the Bank will look to maintain its current headcount.

Almost 5,000 people work for the central bank, most of whom are currently based at its headquarters in the City of London’s Threadneedle Street.

“Leeds is a thriving city where the Bank of England has had a significant presence for over 200 years,” said Andrew Bailey, Governor of the Bank of England.

“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.”

The announcement was welcomed by Tracy Brabin, Mayor of West Yorkshire, who said that it cemented the region’s reputation as England’s leading banking capital outside of London.

“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,” Brabin added.