FCA builds up Leeds presence

Set to base a further 100 employees in the city, the Financial Conduct Authority will increase its footprint at 6 Queen Street by 5,000 sq ft.

The deal reflects an increase of 35% in space occupied. Refurbishment of the space will begin this summer, with completion expected in autumn.

Nikhil Rathi, chief executive at the FCA said: “We have really benefitted from having a base in Leeds – both in the 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 FCA opened its Leeds base in September 2022, and currently employs around 240 people in the city. At the 71,000 sq ft 6 Queen Street in the city’s west end office core, it shares an address with occupiers including Burberry.

Leeds’ reputation as a professional centre has already received a boost this year through the Bank of England – which committed to a northern hub in the city in 2021 – giving a ringing endorsement by announcing it is aiming for a headcount of 500 in the city by 2027, through a combination of internal relocations and local recruitment. The bank’s Leeds operation is currently based at Yorkshire House.

Tracy Brabin, Mayor of West Yorkshire 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 Financial Conduct Authority.

“It’s 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.”