Bank of England plans sevenfold expansion of Leeds operation

One in 10 officials to be based in city within three years and current 70-strong team will increase to 500

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 current 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.