Bank of England appoints head of Leeds office which is set have at least 500 staff by 2027

The announcement follows the Bank’s recent commitment to have at least 500 staff based in Leeds by 2027.

In a statement, the Bank of England said: “Sebastian currently holds the position of Secretary of the Bank and will continue in that role, reporting to the Governor of the Bank, as currently.

"He will take up the additional Head of Leeds responsibilities later this year following his relocation.”

Mr Bailey said: "I'm delighted that Sebastian Walsh will be taking on the Head of Leeds role, which will help deliver our ambitious plans for the Bank of England site in Leeds.

"Sebastian brings considerable experience to the role, and is ideally placed to act as an ambassador for this important work and help ensure we serve and represent people across the UK.”

Mr Walsh said: “I am thrilled to be taking on this role. The Bank of England serves all the people of the United Kingdom, and our growing presence outside of London reflects that commitment.

"I am looking forward to working closely with our stakeholders in Leeds and across the north of England to ensure the Bank plays its part in delivering its mission to maintain monetary and financial stability.”

Mr Walsh became Secretary of the Bank of England in May 2022. In this role, he advises the Bank’s Court of Directors, which performs the role of a board of directors.

He is the Bank’s conflicts officer and supports the Government when it makes appointments to the policy committees and Court of Directors.

In October 2023 the Bank opened an expanded office in Leeds. The Bank said this was part of its strategy to increase trust and understanding in the Bank across the UK, better represent the people it serves and tap into wider, diverse talent pools.

The statement added: “The headcount target (for the Leeds office) will be achieved through a combination of voluntary internal relocations and new Leeds-based recruitment.

"The Bank will maintain its overall headcount number, whilst expanding its numbers in Leeds.

"Work will continue with Leeds City Council, the West Yorkshire Combined Authority, and the local partners to establish the Bank’s presence in the city.”

The Bank has 12 Agencies across the UK which operate from a network of offices in Belfast, Birmingham, Bristol, Cardiff, Fareham, Glasgow, Leeds, Manchester, Newcastle, and Nottingham.