FCA to hire 100 extra staff in Leeds office this year

The Financial Conduct Authority is hiring more staff in Leeds after the city surpassed expectations as a regional base for a national regulator, according to its chief executive.

Nikhil Rathi, the FCA’s CEO, praised the quality of the skills base in Leeds when he visited the city to meet regional business leaders.

The FCA has opened further floor space at its office at 6 Queen Street, Leeds.

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The FCA’s regional office in Leeds, which opened in 2022, is now a base for more than 300 employees.

The Financial Conduct Authority (FCA) has opened further floor space at its existing base at 6 Queen Street, Leeds. First opened in 2022, the FCA’s regional office in Leeds is now a base for over 300 employees, with around 100 more people expected to be welcomed into the additional space this year. Pictured is chief executive Nikhil Rathi. (Photo supplied by FCA)The Financial Conduct Authority (FCA) has opened further floor space at its existing base at 6 Queen Street, Leeds. First opened in 2022, the FCA’s regional office in Leeds is now a base for over 300 employees, with around 100 more people expected to be welcomed into the additional space this year. Pictured is chief executive Nikhil Rathi. (Photo supplied by FCA)
The Financial Conduct Authority (FCA) has opened further floor space at its existing base at 6 Queen Street, Leeds. First opened in 2022, the FCA’s regional office in Leeds is now a base for over 300 employees, with around 100 more people expected to be welcomed into the additional space this year. Pictured is chief executive Nikhil Rathi. (Photo supplied by FCA)

Around 100 extra staff are expected to be welcomed into the additional 5,000 sq ft of space in Leeds this year.

Mr Rathi said: “I’m delighted to open the new floor here in Leeds today. The expansion provides further opportunity for us to benefit from a broader talent pool, offering different perspectives and experiences, meaning we can better represent the communities we serve.”

He told The Yorkshire Post: “We are the regulator for the whole of the UK and it's really important that we have a presence right across the UK.”

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He said the FCA came to Leeds “because of the superb talent pool, the great universities and the welcome we received from the city council and the strong financial and professional services pedigree that has been in Leeds for many, many decades.”

Mr Rathi said the Leeds office had surpassed expectations adding: “We've attracted a whole range of skills here. We've recruited across dozens and dozens of teams. We have what we call 'location agnostic' recruitment across the FCA so every job is advertised as being open to applicants from London, Leeds and Edinburgh.

"We've filled a very significant number of roles here, with really superb people.”

The new floor space was officially opened by Mr Rathi in a ceremony attended by civic leaders.

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They were joined by guests Beth Russell, second permanent secretary to the Treasury and head of the Darlington Economic Campus at HM Treasury, Leeds City Council’s chief executive Ed Whiting, Sebastian Walsh, the Bank of England’s head of Leeds and Felix Kumi-Ampofo, director of inclusive economy, skills and culture from West Yorkshire Combined Authority.

Mr Whiting said: "Leeds is rapidly establishing itself as a leading hub for finance and technology. Our vibrant city is a beacon of diversity and innovation, making it one of the most dynamic and exciting cities in the UK. I’m delighted to see the FCA’s commitment to enhancing our city’s growth and influence, and I look forward to a successful future together."

Tracy Brabin, Mayor of West Yorkshire said: “The Financial Conduct Authority’s expansion is fantastic for our region, cementing West Yorkshire as the regional leader for financial services.

“It’s creating more well-paid jobs and supporting our ambition to drive economic growth in a stronger, brighter West Yorkshire that works for all."

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“We look forward to working with the FCA as our financial services sector goes from strength to strength.”

The FCA regulates the conduct of around 42,000 businesses in the UK to ensure that financial markets work well.

It was established on April 1 2013, taking over conduct and relevant prudential regulation from the Financial Services Authority.

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