Bank of England Expands Presence in Leeds with New Office Plans

The Bank of England is expanding its presence in Leeds by opening a new office at Capitol House in Bond Court. This move will allow the bank to accommodate its growing headcount, which currently stands at just under 300 staff. However, the bank has ambitious plans to increase this number to at least 500 by 2027.

According to Bank governor Andrew Bailey, the new office is an 'important milestone' in the bank's long-term commitment to Leeds. He stated that the exceptional talent and expertise found in the city would help the bank better reflect and represent the people it serves.

The move is also seen as a significant step towards boosting growth across regional areas. Tracy Brabin, Mayor of West Yorkshire, believes that the Bank establishing a permanent base in Leeds will signal a national belief in the region's economic future.

The expansion in Leeds comes as part of an overhaul of the bank's office footprint, which includes plans to refurbish its historic Threadneedle Street HQ and reportedly shut the nearby Moorgate site. The bank aims to consolidate its property footprint in London by end-2028.