The Bank of East Asia (BEA) has today issued a statement to announce its arrival in Manchester.
With its headquarters based in Hong Kong the bank’s Manchester branch will open on Charlotte Street in Manchester city centre.
Joseph Chow, general manager of BEA’s 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.
“We hope to be operational by the end of April and we’re currently recruiting for a team of 12-13 people who will be based at our new site on Charlotte Street.
“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: “We’re delighted that the Bank of East Asia has chosen Manchester within its UK expansion plans.
“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.”