The Financial Conduct Authority is confirming its commitment to Leeds, signing a deal to move more than 350 staff to a new base at Wellington Place in 2028.
The Financial Conduct Authority (FCA) is moving more than 350 employees to a new base at Wellington Place in 2028, adding to the growing number of major financial institutions choosing Leeds as a place to do business.
The FCA regulates the UK’s financial services industry, helping ensure markets work fairly for consumers and the wider economy. It has been growing its presence in Leeds since 2022, and this latest move is a sign of its long-term commitment to the city.
It’s also another boost for Leeds’ reputation as one of the UK’s leading financial centres. Alongside the Bank of England’s regional presence and the National Wealth Fund, the FCA is part of a wider picture of major institutions establishing themselves outside London.
Why is Leeds attracting major professional services organisations?
Credit: Blacks Solicitors
Leeds has been an important centre for financial and professional services for a long time, with a strong network of banks, insurers, legal firms and consultancies. The arrival and expansion of major institutions further strengthens that position, bringing expertise and skilled jobs into the city.
The benefits of doing business in Leeds extend far beyond the corporate world. A growing commuter population provides a vital boost to the city centre economy – driving footfall into independent cafés, bars, and retail hubs.
Employers are also drawn by the region’s deep talent pool, fuelled by four local universities and a flourishing market for early career opportunities.
The FCA’s move also reflects a wider push to build stronger regional operations, rather than concentrating expertise and decision-making in the capital.
Pritheeva Rasaratnam, Head of the Leeds office at the FCA, said: “This move reflects our continued commitment to Leeds and our confidence in the city as an important financial and economic centre.”
She added that the new office would provide colleagues with a high-quality environment to work and collaborate, while supporting the FCA’s strategy to strengthen its national footprint and grow its capabilities outside London.
A new home at Wellington Place
Credit: Bevan Cockerill
The regulator will relocate from its current temporary Leeds office to 2 Wellington Place, taking space across the building’s top two floors.
The 119,000 sq ft building is currently undergoing a major sustainable refurbishment. Once complete, it will feature an all-electric design, enhanced cycle facilities and a dedicated business lounge – targeting an EPC A rating and BREEAM Excellent certification.
For Wellington Place, the deal is another significant addition to its business community. The urban quarter has established itself as a destination for financial, legal and professional services firms, with workspace alongside places to eat, meet and spend time. And, being situated just a five minute walk from the station, it’s the perfect workplace location for commuters and visitors alike.
Miles Jones, Regional Development Director at Federated Hermes MEPC, which is responsible for Wellington Place, said: “We are delighted to welcome the Financial Conduct Authority to Wellington Place. This letting is testament to the quality of our offer and our continued commitment to delivering exceptional, sustainable workplaces that meet the evolving needs of modern occupiers.”
The FCA’s move is planned for 2028, so there’s a little while to wait before its new base opens. But the announcement is another positive signal for Leeds, underlining the city’s ability to attract major employers and strengthen its position on the UK’s financial map.
Cover image credit: Aberfield.
