The Financial Conduct Authority is set to base a further 100 of its workforce in its Leeds office as it expands its footprint in the city.
The regulator announced it would open an office in the northern city back in July 2021, initially planning on having 100 colleagues based here.
The FCA subsequently signed a deal for the premises of its Leeds office back in August 2022 with director of change and transformation, William Hague, leading the operation.
Today (August 7) the FCA announced it will increase its floor space by nearly 5,000 square feet of its 6 Queen Street Office.
This represents an increase of 35 per cent on the initial plan and will accommodate an additional 100 members of staff.
The refurbishment project will begin in late summer and the new space is expected to open in the autumn.
FCA chief executive, Nikhil Rathi, said: “We have really benefitted from having a base in Leeds - both in breadth of talent that has joined the FCA and the different perspective our Leeds colleagues bring to the full breadth of our work.
“This further expansion is testament to the success of our Leeds office and the warm welcome we have received.”
The announcement was welcomed by West Yorkshire Mayor, Tracy Brabin, who said: “West Yorkshire is going from strength to strength as the largest financial services centre in England outside London.
“Hot on the heels of the Bank of England’s expansion in Leeds, I’m thrilled to welcome this new commitment from the FCA.”
Brabin additionally described the announcement as a “fantastic vote of confidence in our region” as “we work to drive economic growth in a stronger, brighter West Yorkshire that works for all”.
The FCA first opened its office in September 2022 and currently employs almost 240 staff in the city.
tom.dunstan@ft.com
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