Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Bank of England delays plans for move to Leeds

by November 22, 2022
November 22, 2022
Bank of England delays plans for move to Leeds

The Bank of England has delayed plans to move hundreds of staff from London to Leeds as the wider economic turmoil slows the institution’s plans to expand its operations outside the capital.

Plans to strengthen Threadneedle Street’s northern hub have been delayed by at least a year as the central bank scales back ambitions to increase its presence across the UK.

The plan to acquire up to 100,000 sq ft of office space has also been shelved as the Bank focuses on the economic crisis, according to The Daily Telegraph, which first reported the news.

In April last year the Bank announced plans to move staff out of London to a new northern hub, which would be developed in Leeds.

The proposals were announced shortly after the Treasury confirmed Darlington as the location for its northern base as part of the government’s strategy to “level up” the regions.

Andrew Bailey, the Bank’s governor, said at the time that moving more of its 4,000 staff outside London and the southeast would help the Bank to serve the country as a whole.

The Bank expanded its office in Leeds, which was previously used by the four staff members that make up its Yorkshire and Humber agency, in the spring. About 30 members of staff are now based at the site.

It has a network of about a dozen regional representatives, who are known as “agents”, in Glasgow and Manchester among other areas.

A Bank of England spokesman said plans for the Leeds office had not been scrapped. “We are fully committed to expanding our staff presence outside London and the southeast, in order to better serve and attract people across the UK,” he said. “It is important that we take time to get this right, not least as post-pandemic ways of working are still being established.”

He added that the Bank was “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 Financial Conduct Authority, which is responsible for regulating financial services companies, has recently opened an office in Leeds, and it expects 100 of its employees to be based there.

Leeds is known for its diverse economy, with a large number of successful technology, financial and legal firms based in the city.

Read more:
Bank of England delays plans for move to Leeds

0
FacebookTwitterGoogle +Pinterest
previous post
Report Claims that the “Hacker” of FTX Is Now Multimillionaire in Ethereum Crypto
next post
Last Case of Voting Machine Abuse in 2020 Election Ends in PA with Court Dismissal

You may also like

Vodafone and Virgin Media O2 partner to enhance...

July 4, 2024

The Best Cigars for Beginners in 2022

September 27, 2022

Getting to Know You: Gareth Lloyd, Co-Founder, White...

October 17, 2023

How much has the entertainment industry spent on...

February 1, 2023

Office landlords go green to beat competition 

June 5, 2023

Utopi enters high-growth phase

July 31, 2023

UK Firms Set to Invest £338 Billion in...

April 18, 2024

Betting Apps: Revolutionizing Online Betting and Paving the...

May 31, 2023

Former TalkTalk CEO Dido Harding to become first...

December 1, 2023

How to set realistic financial goals for your...

March 28, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump ally stands firm against ‘big, beautiful bill’ despite pressure: ‘It’ll completely backfire’

      June 8, 2025
    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved