The FCA is to add another 100 roles to its Leeds office, adding close to 50% to the number of staff based at the office.

The regulator currently employs 240 staff in the city with the expansion boosting numbers to nearly 350.

The watchdog first opened its Leeds office in 2022 to house its Digital Delivery Centre and other business teams.

The FCA will also increase its floor space by nearly 5000 sq feet at its 6 Queen Street office, an additional 35%.  

The refurbishment project will begin late summer and the new space will open in the autumn.

Nikhil Rathi, chief executive at the FCA, said its Leeds workforce brings a different perspective to their colleagues based elsewhere.

He 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 several new regional offices in 2021 and 2022 including Leeds, Cardiff and Belfast.

The regulator said at the time that as a national regulator, it was vital that the FCA has a national footprint with colleagues across the UK.

The FCA has recently come in for criticism for the wage disparity between its highest and lowest earners.

The average salary at the regulator, which employs over 4,900 staff, rose by an average of 4.8% over the past year to £71,290.

The changes follow strike action by some staff over pay and conditions and the withdrawal of a controversial bonus scheme in April 2022.

The FCA increased salaries by an average of 6.5% in April 2023, with a guaranteed minimum increase for staff of 4.5%. Unite union members took part in a 48 hour walkout in 2022 in a row over pay and terms at the FCA.

In recent times Unite has accused the FCA of failing to raise salaries and improve terms for staff, resulting in an alleged exodus of staff.