Bank of England plans sevenfold expansion of Leeds operation

The Bank of England says increasing its presence in Leeds is aimed at improving trust and wider understanding of its work across the UK. Photograph: Teamjackson/Getty Images/iStockphoto

The Bank of England governor, Andrew Bailey, has announced a big expansion of its operations in Leeds, with one in 10 officials to be based in the West Yorkshire city within three years.

Bailey said the 70-strong team at the central bank’s northern hub would swell sevenfold to 500 by 2027 through a combination of voluntary relocation and local recruitment.