Bank of England 'revisits timetable' to move staff to Leeds but remains committed to the city

In 2021, The Bank of England announced its intention to open a northern hub in Leeds as part of a strategy to significantly enhance its staff presence across the country.

At the time, it was understood that the relocated functions could see policy decisions made from the Leeds hub and that the Bank was actively considering having one of its deputy governors based in Yorkshire on a full-time basis.

A Bank of England spokesperson said today: “We are fully committed to expanding our staff presence outside London and the South East, in order to better serve and attract people across the UK.

“It is important that we take time to get this right, not least as post-pandemic ways of working are still being established. We are revisiting our plan and timetable but our presence in Leeds will continue to expand, and our intention to create a Northern Hub there remains.”

The spokesman stressed that the Bank has already expanded its previous small office in Leeds that was used by four staff from the Yorkshire and Humber Agency. This spring, the Bank established an office from which around 30 staff currently work. This office will continue to grow and further recruitment is planned, the spokesman said

External engagement work will also continue in order to build business, community and educational links in the region, the spokesman added.