Bank of East Asia to open in Manchester

HONG KONG-based Bank of East Asia (BEA) is opening its first branch in Manchester later in the year.

It is refurbishing a four-storey 1960s building in Charlotte Street, on the edge of Chinatown, ahead of an April launch.

The bank, which opened in London in 1990 and Birmingham in 1997, will have an initial team of 13 and is advertising business development and customer service roles. It plans to sub-let extra space at the building.

Joseph Chow, general manager of the London branch, said: “We’ve developed a growing customer base in Manchester and have been considering a move into the city for some time. The opportunity to have a presence in Manchester’s Chinatown is one that is too good to miss.

He added: “The Manchester office will serve as a bank branch and we will also offer a safety deposit box service which has proven very popular in BEA’s London and Birmingham branches.  

“For this particular project, we’ve decided to invest in more space than we currently require. Our plan is to sublet two floors within the building, ideally to other businesses that complement what we do. Of course, this also presents an opportunity for expansion should we wish to do so in the future.”

Tim Newns, chief executive of MIDAS, Manchester’s inward investment agency, said: “With one of Europe’s largest Chinese community’s, and a strong and growing trade relationship between Greater Manchester companies and China, the demand is strong locally for financial services linked direct to key markets.

“We will continue to support their planning and operational activities here in the city and look forward to building deeper relationships with the bank over the coming months.”

Close