Bank of England to increase Leeds office presence

The Bank of England is planning to expand its operations in Leeds and has made an announcement confirming a permanent presence in the city. It has promised to employ a minimum of 500 workers in Leeds by 2027, accounting for approximately 10% of its workforce.

The Bank plans to attain its targeted headcount through a blend of voluntary internal staff reshuffling and recruiting new employees to work in Leeds. The goal is to retain its current overall headcount while increasing its workforce in Leeds.

Expanding the office premises in Leeds has a goal of promoting confidence and greater awareness of the Bank's operations across the United Kingdom. The organization intends to represent and serve the people better to benefit from diverse talent pools spread throughout the country. Enhancing the office infrastructure could also aid in retaining valuable staff members.

The head of the Bank of England, Andrew Bailey, stated:

The city of Leeds is flourishing and has been home to the Bank of England for more than 200 years. Establishing a new, larger office in Leeds presents an excellent opportunity for us to enhance our relationship with the community, create stronger connections with local businesses, and attract a diverse and talented workforce to join our efforts in serving the public and promoting the work of the Bank.

The Mayor of West Yorkshire, Tracy Brabin, expressed her thoughts on the matter:

West Yorkshire is becoming increasingly popular among national institutions due to its thriving cities, lively towns, and stunning rural areas.

The Bank of England's verdict is a big boost for our locality, highlighting our standing as the top banking hub in England, excluding London. It also creates numerous employment opportunities for skilled graduates and experts in our community.

"Moving decision-making authority from London to the North will provide advantages to the whole nation and support in equalizing our country's economy."

According to the leader of Leeds City Council, Councillor James Lewis, he stated:

It brings us great joy to hear that the Bank of England will be increasing their office space in Leeds. As the second largest city in the UK for financial services and a significant center for related professional services, this decision serves as a testament to the growth and influence of the city. This also highlights the incredible teamwork of Leeds and its partners from both the private and public sectors. By working collaboratively, they are able to deliver excellent results that have a positive impact on the city's residents.

Coming up next week, we're excited to have 12,000 representatives from all corners of the globe visiting us here in our city for UK REiiF. We're thrilled to offer them the chance to witness firsthand why some of the biggest international companies - including Burberry, C4, and even the Bank of England - have chosen Leeds.

The Bank will keep working with the Leeds City Council, the West Yorkshire Combined Authority, and the business community in the area to ensure that the Bank establishes itself in the city.