The Bank of England is preparing to open a new office in Leeds by late 2028, according to recent reports. Currently, the central bank employs nearly 300 people at its Yorkshire House office in the city. The new location, Capitol House in Bond Court, is expected to eventually replace the current site and provide space for the Bank’s growing workforce in Leeds. The Bank, which is headquartered in London’s Threadneedle Street, had previously announced plans to expand its presence in Leeds to at least 500 employees by 2027. Bank governor Andrew Bailey emphasized that the new office marks a key milestone in the Bank’s long-term commitment to Leeds and the surrounding region. He praised the talent, expertise, and fresh perspectives available in Leeds and the wider area, stating that the move will help the Bank better represent the people, businesses, and communities it serves across the UK. Tracy Brabin, the Mayor of West Yorkshire, welcomed the news, saying it would support regional growth and highlight the economic potential of the Northern Square Mile—a growing financial hub in the north of England. She noted that the Bank’s decision to establish a permanent base in Leeds shows confidence in the region’s future and ensures that voices from across the UK will shape the national economy. This, she said, will contribute to stronger, more inclusive economic growth across all areas of the country. The expansion in Leeds is part of the Bank’s broader location strategy, which includes renovations at its historic London headquarters on Threadneedle Street. The Bank is also reportedly closing its nearby Moorgate site as part of efforts to consolidate its London property holdings by the end of 2028. The Bank of England first established a branch in Leeds in 1827, with Thomas Bischoff serving as the first agent. Today, the Bank operates 12 agencies across the UK, including locations in Belfast, Birmingham, Bristol, Cardiff, Glasgow, Manchester, and other major cities. The new Leeds office will continue this long-standing tradition of regional presence and engagement.