The FCA is set to boost staff numbers this year at its expanding Leeds office from 300 to 400 with the recruitment of 100 new employees.

The regulator yesterday added a further 5,000 square feet of floor space at its existing base at 6 Queen Street for the additional staff.

The Leeds FCA office was first opened in 2022 and now employs 300 staff. The watchdog says about 100 more people will be recruited for the Leeds office this year.

The London-based FCA has increasingly expanded regional offices in recent years as its workload has expanded.

The new floor space was officially opened yesterday by FCA chief executive Nikhil Rathi. He was joined by guests Beth Russell, second permanent secretary to the Treasury and head of the Darlington Economic Campus at the Treasury; Leeds City Council’s chief executive Ed Whiting; Sebastian Walsh, the Bank of England’s head of Leeds and Felix Kumi-Ampofo, director of inclusive economy, skills and culture from West Yorkshire Combined Authority.

Mr Rathi said: “The expansion provides further opportunity for us to benefit from a broader talent pool, offering different perspectives and experiences, meaning we can better represent the communities we serve.'

Ed Whiting, chief executive of Leeds City Council, said: “Leeds is rapidly establishing itself as a leading hub for finance and technology. Our vibrant city is a beacon of diversity and innovation, making it one of the most dynamic and exciting cities in the UK. I’m delighted to see the FCA’s commitment to enhancing our city’s growth and influence, and I look forward to a successful future together.'

Tracy Brabin, Mayor of West Yorkshire, said: “The Financial Conduct Authority’s expansion is fantastic for our region, cementing West Yorkshire as the regional leader for financial services. It’s creating more well-paid jobs and supporting our ambition to drive economic growth in a stronger, brighter West Yorkshire that works for all.”

According to the FCA’s Annual Report 2023/2024 the FCA employed 4,995 staff as at March 2024.