The Bank of England is set to open a new office in Leeds as it continues to beef up its presence in the city.
Britain’s central bank has secured a new long-term site at Capitol House in Bond Court in Leeds, which it said will help house its “growing headcount” in the city and eventually replace its current office at Yorkshire House.
The Bank, which is headquartered in London’s Threadneedle Street, has just under 300 staff in Leeds, but has previously announced plans to expand the workforce in the West Yorkshire city to at least 500 by 2027.
It is set to move to Capitol House in late 2028.
Bank governor Andrew Bailey said: “The Bank’s new office in Leeds is an important milestone in our long-term commitment to the city.
“We have seen first-hand the value of the exceptional talent, expertise and fresh perspectives that Leeds and the wider region offer.
“Moving to Capitol House strengthens our presence across the UK and helps ensure the Bank better reflects and represents the people, businesses and communities we serve.”
Tracy Brabin, Mayor of West Yorkshire, said the move would help with the aim to boost growth across the regions.
She said: “The Bank of England putting down even deeper roots in Leeds is a powerful endorsement of our Northern Square Mile, and signals a national belief in our region’s economic future.”
She added: “The Bank establishing a permanent base in Leeds won’t just be good for the people of West Yorkshire – it will help ensure that the future of our national economy is shaped by voices from across our regions and nations.
“That is how we’ll deliver good growth in every postcode and build a stronger, brighter UK economy that works for all.”
The expansion of its presence in Leeds also comes as part of an overhaul of its office footprint, called its location strategy programme, which is set to see it refurbish its historic Threadneedle Street HQ and reportedly shut the nearby Moorgate site.
The Bank said the Threadneedle Street refurbishment is “designed to allow consolidation of the Bank’s property footprint in London by end-2028”.
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.
