Leeds 'attracts investors to its important financial centre'

Leeds still remains an important financial centre for private banking and other institutions in the sector, it has been said.

New investors view Yorkshire and the city of Leeds as having many advantages, with three of the five biggest building societies originating from the area - the Yorkshire, Skipton and the Leeds, Andrew Bounds said.

Writing in the Doing Business in the Leeds City Region supplement of the Financial Times, he stated the example of Leeds-based Yorkshire Bank, which has ’emerged relatively unscathed’ from the economic downturn.

The Yorkshire employs more than 1,000 people in Bradford and the completion of its merger in April with the Chelsea will see assets combine to reach £35 billion.

Furthermore, Mr Bounds noted: ’Lloyds Banking Group has committed to keeping its mortgage operations in Halifax and still employs more than 5,000 in the region.’

Minister for regional economic development and coordination Rosie Winterton recently launched in Leeds Finance Yorkshire, a new £90 million capital and loan fund.ADNFCR-2318-ID-19676179-ADNFCR