FCA sets out new goal to double Edinburgh and Leeds headcount to over 1,000
“We want to deepen trust in financial services and shift our collective attitude across financial services to risk” – Ashley Alder, FCA chair
A growth drive by the Financial Conduct Authority could see it double the headcount across its regional operation encompassing Edinburgh and Leeds to more than 1,000 over the next five years.
The jobs goal has emerged after the City regulator launched a five-year strategy to “deepen trust, rebalance risk, support growth and improve lives”. The new blueprint aims to build on the FCA’s achievements over the course of its previous three-year strategy.
These include sweeping changes to make it easier for companies to raise money, the introduction of the Consumer Duty, to improve consumer protection, and keeping more potentially harmful firms out of the financial services arena.
In its new five-year strategy document, the financial watchdog stressed that it works “on behalf of the whole of the UK”, supporting financial services in all parts of the country.
It said: “Since 2021, we doubled the size of our office in Edinburgh and opened one in Leeds. Together, they’re the base for nearly 11 per cent of our workforce. We will continue to draw on the skills across the country, aiming to at least double the number of colleagues, to over 1,000, based at our Leeds and Edinburgh offices over the next five years.”
Nikhil Rathi, chief executive of the FCA, said: “Our last strategy set high standards and bolstered our operational effectiveness. We are committed to going much further, delivering at pace to meet the scale of change we are facing over the next five years. This strategy sets out our priorities, how we’ll become more efficient and effective and make the choices that shape the financial system.
“Our four priorities reinforce one another and we look forward to collaborating with our partners as we become a smarter regulator, support growth, help consumers and fight crime. We are ambitious for the future and committed to enabling a fair and thriving financial services market for the good of consumers and the economy.”
Chair Ashley Alder added: “We want to deepen trust in financial services and shift our collective attitude across financial services to risk.”
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