YEP Says: Leeds really is a powerhouse of financial success

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IF YOU needed any convincing that Leeds was a financial powerhouse in its own right, perhaps a story in today’s Yorkshire Evening Post may convince you.

While Leeds and the rest of Yorkshire might seem to be struggling to gets its act together on the Northern Powerhouse front, allowing Manchester and the North West to make the running, there are reasons for us to be cheerful on this side of the Pennines,

The fact remains that there are many areas where Lancashire cannot touch us and financial services is something we are really leading the way on. The Leeds City Region is home to 30 national and international banks, and is home to the headquarters of three of the five largest building societies. Leeds is a major centre for mortgage, corporate and retail finance, insurance and stockbroking. The city is also an important centre for equity, venture and risk finance. Other cities in Yorkshire are also important finance hubs.

Data out today from The City UK shows that of the 2.2m people working in financial services in the UK, 139,000 are in Yorkshire. In Leeds alone there are 36,000 people working in financial centres, one in 10 of the entire city’s workforce.

The fact is major centres like Leeds play a key role in maintaining the UK’s place as the world’s leading financial centre. That is something to celebrate.