Bank of New York Mellon will close its Liverpool office by the end of 2026 and offers update on the 250 staff at the site. Tony McDonough reports
Bank of New York Mellon (BNY) will close its Liverpool office by the end of 2026 and says the majority of 250 staff will have the option of moving to Manchester.
BNY says it is currently in consultation with its Liverpool-based team, which includes its Pershing Securities subsidiary, based at the Royal Liver Building on the city’s waterfront.
This decision follows a change to its Manchester operation, announcing it is moving to 4 Angel Square in the city centre in 2026. Although most of the Liverpool staff will be offered places in Manchester, BNY admits some jobs could be at risk.
In a statement to the Liverpool Echo the company said: “At BNY we continually evaluate our real estate footprint to ensure we are operating efficiently. We are intending to close our Liverpool office.
“For affected employees we have commenced a consultation process. We remain committed to serving our clients and relationships in the UK market and internationally.”
Founded in New York in 1784, BNY merged with Mellon Financial Corporation in 2007. From its headquarters in the city the company provides global financial services and operates several branches across England.
In the UK it offers asset servicing, asset management, private equity and hedge fund administration, broker-dealer services, depositary receipts, corporate trust and treasury services.”
READ MORE: Liverpool Airport passenger numbers rise – as energy use falls
Sean Turner, Manchester site executive at BNY, said: “Manchester is a key location for BNY. Our high performing teams will come together in a prime city centre office.”
That move within Manchester has been supported by Greater Manchester Mayor Andy Burnham who visited BNY’s headquarters in New York as part of a Greater Manchester trade mission to North America.
He said: “I’m glad to see this long standing partnership continue as Manchester is one of BNY’s strategic growth locations.”
Although the BNY departure from the Royal Liver will see workers leaving the iconic building, there will be an increase in headcount by Food giant Princes, which acquired it for £60m in July. It already employs 400 people there.