Leeds is becoming a financial powerhouse and economists’ visit brings back Yorkshire memories

Leeds’ position as a key financial centre can’t be questioned. The city’s sector is only getting stronger and the future looks bright with the conditions ripe for it to prosper further.

The Financial Conduct Authority (FCA) hiring more staff in Leeds after the city surpassed the national regulator’s expectations as a regional base is a testament to how strong the region is.

The FCA’s regional office in Leeds opened in 2022 and is now a base for more than 300 employees. The regulator expects to welcome around 100 extra staff to its Leeds base.

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These are the sort of opportunities that the region yearns for. They show that ambitious young people don’t need to go elsewhere to build fulfilling careers in the financial sector.

Leeds' skyline pictured last year. PIC: James HardistyLeeds' skyline pictured last year. PIC: James Hardisty
Leeds' skyline pictured last year. PIC: James Hardisty

Professor Alan Taylor, who is a member of the Bank of England’s Monetary Policy Committee, is a great example of what people should be aspiring to. The Wakefield-born economist is now Professor of International and Public Affairs at Columbia University in the US as well as being a member of one of the most well respected institutions across the globe.

He isn’t the only connection to the Bank of England the region has. The current Chancellor and Leeds West and Pudsey MP, Rachel Reeves, also worked at the august organisation.

It is good to see Professor Taylor still fall back on his childhood in the region. Coming from a mining family, he references the old Yorkshire saying ‘it all comes off t’ pick point.’

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“This expression embodies a basic, common-sense economic concept: the resource constraint. The hard-won wages of piece work basically have to line up with household expenses, sooner or later,” he says.

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