Why does the Bank of England have 4,260 staff? And why has it just paid them £23,325,265 in bonuses?Just asking.Nick
Nicholas Evans ● 1032d4 Comments
I wouldn't think they'd be included except perhaps whoever at the BoE manages the contract. (If I remember correctly FCA MiFID outsourcing rules stipulate one should retain sufficient expertise in house to supervise a contract and, if necessary, manage its transition to a other provider. That might just be one person :-) )
Michael Ixer ● 1032d
Michael, settlements are outsourced to computershare so I'm guessing they are not included in the staff stats
Adam Tripp ● 1032d
The Printing Factory in north east London must employ a few hundred staff..and add that to those employed at the Roehampton Sports Ground.At the Bank of England site in the City..I was once told there were more floors of activity below ground than there were about ground!
Jim Lawes ● 1032d
That's a good question, Nick. So I had a look at the BoE website. It covers quite a range of diverse activities:https://www.bankofengland.co.uk/It includes operations such as the PRA and CHAPS. Regulation would require a number of staff in itself and operations of a payment system would require its own specialist staff so looking at the range of activities the number of staff isn't that surprising? No idea about bonus payments, one would need to get hold of some employment contracts to se under what conditions they're paid. In an organisation like the BoE they'd surely be paid on a defined performance metric rather than be discretionary? Of course, senior managers could set an example and decline them?