FTSE 100 financial group in Yorkshire move

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FTSE 100 outsourcing group Capita is believed to be preparing to move the operations of one of its financial businesses from London to Yorkshire.

Capita Financial Group (CFG) is reported to be close to starting redundancy consultations with its London staff ahead of a move to Leeds.

Investment Week has reported that the company’s strategic plans to reorganise its business will see its primary base move from the capital to Leeds with support from its existing operations in India.

CFG already employs around 200 staff at offices on the City West One Office Park on Gelderd Road in Leeds.

CFG, headed by chief executive Chris Addenbrooke, a former director of wealth management group BWD Rensburg, provides administration and support services for stockbrokers, private client investment managers and investment banks and trusts.

Mr Addenbrooke formed Northern Registrars in 1988 for BWD Rensburg – now called Rensburg Sheppards – and became managing director until it was acquired by Capita Group in 2003 when he was appointed chief executive of Capita Registrars.

He became chief executive of CFG in 2007.