Leeds’ position as the leading centre for financial and business services outside London has received further confirmation with the latest publication of official figures.

According to the latest government’s Annual Business Inquiry figures for 2005 Leeds now has the largest number of people employed in financial and business services of any city outside London.

For the first time Leeds, at 109,060, has overtaken Birmingham, 106,279 and is ahead of Glasgow, 105,642, Edinburgh, 104,738 and Manchester at 82,779.

Commenting on the figures, Patrick Walton, chairman of Leeds Financial Services said: “This data substantiates what we have been saying for sometime; that Leeds is the most important centre outside London for financial and business services, because of the breadth and depth of the sector. Now this is reflected in employment figures as well. The city continues to attract jobs, investment and business because of its reputation as a great place to do business - and to live.

“Success breeds success. The financial services sector continues to grow both organically and attract new firms. Over 35 financial and professional services firms have set up in Leeds in recent years.”

The growth also reflects the increasing amount of national and international business being handled in Leeds and the city earning a reputation as a European centre. Last November Leeds was placed for the first time in the top 30 of European business centres (Cushman & Wakefield.)

The financial and business services sector accounts for more than 1 in 4 jobs in the city and 31 per cent of the city’s economic output, which totalled
£13.6 billion in 2006. Leeds has had one of the highest economic growth rates of any UK city creating almost 60,000 new jobs between 1996 and 2006.

Paul Stephens, Leeds City Council chief economic services officer, said: “Employment growth and prosperity in Leeds has been fuelled by the growth in financial and business services. The sector has a vital role to play in the city’s continued success.”

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