LHV opens its second UK office in Leeds, 'the fintech capital of the North'

The company’s engineering and development teams, who will build a proprietary online customer portal for the company’s business to business fintech clients, will be based in the new office, which has options to grow.

A spokesman said: “LHV chose Leeds as its second UK office location because of the city’s well-established fintech ecosystem and the wider region’s highly skilled workforce.

“In addition, LHV UK is currently pursuing a UK banking licence as part of parent LHV Group’s plans to separate the business operations of its retail bank, LHV Bank, from those of the London headquartered fintech focused LHV UK. Since 2018, the company has operated in the UK as LHV Bank’s UK branch.

"This move will allow better compliance with regulatory and supervisory requirements and enable LHV UK to highlight its value proposition and the profitability of its operations to new investors. As the complete separation will also include staffing and technology, management decided to establish a strong presence in Leeds.”

The company has recruited more than half of the 20 positions it is looking to fill in the coming months in Leeds. The office has capacity for 30 desks, with options to scale up its presence in the Wellington Place business hub if required.

Macs Dickinson, Lead Engineering Manager at LHV UK, commented: “If London is the undisputed fintech capital of Europe, then Leeds is the fintech capital of the North. Last year, Leeds was named one of the fastest-growing tech cities according to Digital Economy Council, and the city is already home to more than 30 national and international banks.

“It is an ideal second base for LHV UK.”