The Bank of England is set to magnify its presence in Leeds through a sweeping staff increase. Aiming at strengthening its “northern hub”, it intends to multiply the Leeds workforce from the existing 70 to around 500 by 2027.
The bank plans to facilitate voluntary internal relocations, along with hiring on location to hit the target, all while sustaining its near 5,000 strong overall workforce. Following last year’s announcement to establish a new “northern hub” and the opening of an expanded office at Yorkshire House in Leeds last October, the bank charters more footprints beyond London.
Bank governor Andrew Bailey expressed his enthusiasm stating: “Leeds is a thriving city where the Bank of England has had a significant presence for over 200 years.”
He insinuated that an enlarged permanent Leeds office will enable better public representation, stronger local business connections, and attract a vast pool of talented professionals. West Yorkshire Mayor, Tracy Brabin welcomed the decision by saying, “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,” she added.
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.
