Bank of England aiming to have 500 of its staff in Leeds office – Kat Technical
Boost for Leeds as Bank of England Announces 500-Strong Office
The Bank of England is set to significantly increase its presence in Leeds by establishing a new northern hub that will house around 500 of its staff. This strategic move is part of the Bank’s broader initiative to distribute its operations more evenly across the UK and reduce its heavy concentration in London and the South East. Currently, 98% of the Bank’s staff are based in these areas, and the Leeds hub aims to address this imbalance.
The decision to create a hub in Leeds is driven by several factors. The Bank’s Chief Operating Officer, Jo Place, emphasized the importance of representing the entire UK population more effectively. The Leeds office is seen as a critical component in achieving this goal, enhancing the Bank’s ability to gain insights from diverse regions and better serve the public. Additionally, this move aligns with the government’s “levelling up” agenda, which aims to boost economic opportunities across the country【5†source】【6†source】.
Leeds is already a growing financial center, hosting the UK Infrastructure Bank and soon the Financial Conduct Authority (FCA) with its planned increase of staff in the city. The Bank of England’s new hub will complement these developments, contributing to Leeds’ reputation as a financial and professional services powerhouse【6†source】.
This initiative also reflects the Bank’s adaptation to post-pandemic working models, where flexible and remote working have become more prevalent. The Leeds hub will support these new working arrangements, providing employees with greater flexibility regarding where and how they work【5†source】.
Overall, the establishment of the Leeds hub signifies a major commitment to regional growth and economic rebalancing, enhancing the Bank of England’s operational effectiveness and its engagement with communities across the UK.
