Economy of Leeds

the UK, behind London, Edinburgh, Manchester and Birmingham. Tertiary industries such as retail, call centres, offices and media have contributed to a high rate of economic growth. The city also hosts the only subsidiary office of the Bank of England in the UK. In 2012 GVA for the city was recorded at £18.8 billion, with the entire Leeds City Region generating an economy of £55 billion in 2012.

Between 2002 and 2012, the economy of Leeds grew at a slower rate than the UK as whole, 39% vs 44%, and in 2012 remained 2.6% off its pre-recession peak.

Leeds has over 30 national and international banks, many of whose northern or regional offices are based in the city. It is the headquarters for First Direct and is home to Yorkshire Bank and large Barclays, HSBC, Santander, Lloyds Banking Group and RBS Group operations.

The city is also an important centre for equity, venture and risk finance. Founded in Leeds, the venture capital provider, YFM Equity Partners, is now the UK’s largest provider of risk capital to small and medium sized enterprises.

Other major companies based in the city include William Hill, International Personal Finance, ASDA, Leeds Building Society and Northern Foods. Capita Group, KPMG, Direct Line, Aviva, Yorkshire Building Society, BT Group and TD Waterhouse all also have a considerable presence in the city.

There are around 150 law firms operating in Leeds, employing over 6,700 people. According to The UK Legal 500, "Leeds has a sophisticated and highly competitive legal market, second only to London."

Specialist legal expertise to be found in Leeds includes corporate finance, corporate restructuring