Connect with us

Hi, what are you looking for?

Editor’s Pick

Fintech focused LHV UK bank opens its second UK hub in Leeds

LHV UK, a leading banking services provider to over 200 fintech and crypto companies has announced the opening of its second UK office in Leeds.

The Company’s engineering and development teams, who will be tasked with building a proprietary online customer portal specifically tailored for the Company’s B2B fintech clients, will be based in the Leeds office.

LHV UK chose Leeds as its second UK office location because of the city’s well-established fintech ecosystem and the wider region’s highly skilled workforce. In addition, LHV UK is currently pursuing a UK banking licence as part of the parent LHV Group’s plans to separate the business operations of its retail bank, LHV Bank, from those of the London headquartered fintech focussed LHV UK. Since 2018, the Company has operated in the UK as LHV Bank’s UK branch. This move will simplify compliance with regulatory and supervisory requirements and enable LHV UK to highlight its value proposition and the profitability of its operations to new investors. As the complete separation will also include staffing and technology, management decided to establish a strong presence in Leeds.

LHV UK currently provides banking services to more than 200 leading crypto and fintech companies, such as Paysafe, Blockchain, Currencycloud, Coinbase, Trustly, Monese and Wise. Since establishing a presence in Leeds at the beginning of the year, the Company has recruited more than half of the 20 positions it currently looks to fill in the coming months. The office has enough capacity for 30 desks, with options to scale up its presence in the Wellington Place business hub in the future if required.

LHV UK’s banking licence is subject to regulatory approval by the Prudential Regulatory Authority and Financial Conduct Authority.

Macs Dickinson, Lead Engineering Manager at LHV UK, commented: “If London is the undisputed fintech capital of Europe, then Leeds is the fintech capital of the North. Last year, Leeds was named one of the fastest-growing tech cities according to Digital Economy Council, and the city is already home to more than 30 national and international banks. As the city is a location for the first fintech accelerator outside of London, it is an ideal second base for LHV UK.”

Rebecca Wright, Chief People Officer of LHV UK, said: “Leeds presents us with a truly unique opportunity to attract some of the best industry talent. The Leeds tech community is overflowing with talented, forward-thinking and entrepreneurial individuals. We undoubtedly have as much talent here as Silicon Valley, and I want people to be writing about how to get a job at LHV UK, not just Google, as we have fantastic opportunities for software engineers at all stages of their careers.

“LHV UK is possibly one of the best-kept secrets in Yorkshire right now. Not only is our parent company, LHV Group, listed on the Nasdaq Baltic Stock Exchange with a market cap of over a billion Euros, but we also provide banking services to 20 clients that are fintech unicorns in their own right. The decision to find a secondary office to preserve and build on this success wasn’t easy, but I am confident that Leeds is the best place for us to be.”

Erki Kilu, CEO of LHV UK, commented: “Opening an office in Leeds signifies a long-term commitment from LHV UK – our office is scalable, and the leading universities in Leeds produce a plethora of highly skilled new graduates yearly. Whilst we are confident that our London-based operations will continue to do well, we are also aware that there are growing fintech ecosystems across the country, and we’re keen to invest in the regional development of the fintech space.”

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

Follow us on Spotify BusinessWorld B-Side The Filipino workforce is gradually adapting to a work environment that has been changed forever due to the pandemic....

News

The Department of Environment and Natural Resources (DENR) has given recognition to volunteers and partners who had significant contribution to the cleanup and rehabilitation...

News

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories...

News

Former client, Jennifer Pacquing on her experience with Planning for Canada services. Planning for Canada – Planifier pour le Canada (PfC) is pleased to...

News

Windmills are seen in Pililia, Teresa, Rizal province on April 25. — PHILIPPINE STAR/ MICHAEL VARCAS THE INCOMING Marcos administration should consider the full...

News

THE PHILIPPINE central bank should deliver more aggressive rate hikes in order to curb inflation that is now expected to reach 5% this year,...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Financial Advisors

The healthcare ecosystem is one that has thrived on the cusp of scientific progress, benefitting enormously from the winds of change in the technological...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.