Executive Director, Property Directorate

The Bank of England is the UK's Central Bank. Each of its 5,800 people are committed to public service and dedicated to its mission to promote the good of the people of the United Kingdom by maintaining monetary and financial stability.

The Executive Director for Property reports directly into the Chief Operating Officer and is responsible for delivering on once in a generation upgrade work for the Bank’s London and Leeds bases over the next 3 years, whilst leading the facilities management and property operations of the Bank.

The Bank’s Location Strategy Project (LSP) was launched late 2023 to optimise the Bank’s footprint, including by increasing our presence across the UK to better represent the people of the United Kingdom. In particular, the LSP is overseeing the Bank’s commitments to:

• Grow our presence in Leeds, through external recruitment and relocation from London; and establishing a permanent office.
• Optimise and transform the Bank’s footprint in London including the renovation of our historic Threadneedle Street building.

As we look to successfully deliver this high‑profile upgrade work, this role will require someone with excellent stakeholder management skills and a strategic mindset. As one of the most important contact points between our senior leadership and Property teams on the ground, the ED will bring an enterprise perspective, driving best practice across the function. They will also ensure that everything this function does is in line with the broader priorities set by the Court (our Board), enabling the Bank’s success in carrying out its mission to the country.

With responsibility for a diverse property portfolio, including overseeing the transformation of the Bank’s Threadneedle Street estate and the delivery of a significantly expanded and enhanced operational base in Leeds, this Executive Director plays a central role in shaping the future footprint of the organisation. Alongside this they will oversee the bedding in of a newly agreed facilities management contract and the business‑as‑usual property operations. This role offers substantial scope to leave a lasting legacy on this historic institution as a prominent and visible member of the Bank’s senior leadership team.

Working closely with Sarah John, the COO, and contributing to Executive Committees including Audit and Risk, the post‑holder will partner with Court, Deputy Governors and fellow Executive Directors to deliver major estate transformation, strengthen regional presence, and drive operational excellence and efficiency across the Bank’s Real Estate function and facilities management.

Role overview

• Provide strategic oversight of the Bank’s extensive freehold property portfolio worth £302 million.
• Deliver the transformation of the Bank’s Threadneedle Street estate, a £220 million programme of work to upgrade and renovate the Bank’s iconic heritage building.
• Oversee the expansion of our operational base in Leeds, including establishing our permanent home in the city.
• Manage the business‑as‑usual property function with an annual maintenance budget of £40 million.
• Lead facilities management across the Bank’s estate, including overseeing the embedding of a new facilities management contract.
• Deliver on renewing infrastructure to help meet the Bank’s climate targets, including supporting the 2040 Net Zero emissions goal.

Key responsibilities include

• Setting the strategy and roadmap for the function, while driving efficiencies and value.
• Managing the Bank’s property portfolio and its location strategy for expansion outside of London and the optimisation of its London base.
• Overseeing the management and optimisation of the Bank’s facilities management contract, ensuring efficient, high‑quality service delivery.

Role Requirements

• Demonstrated experience of leading and delivering large and complex property programmes.
• Industry leading knowledge of Property transformation.
• A track record of leading large teams of at 100 with the ability to translate trends in Real Estate to the changing business environment.
• An understanding and commitment to upholding the Bank’s leadership style - human, humble and in step with the changing world, promoting an inclusive culture and working environment.
• Be data centric and embrace analytics as integral to decision making.
• Ability to manage key internal and external stakeholders at all levels to ensure smooth project delivery.
• Ability to effectively engage and collaborate with diverse teams and senior leaders, including Governors, fellow Executive Directors, the Bank of England, HMT, and wider City of London stakeholders.
• Strong commercial and partnership ‘know‑how’, with the ability to build, manage and sustain strategic relationships across the sector.
• Understanding of working in a public sector organisation.

Salary and Benefits Information

Currently a non‑contributory, career average pension giving you a guaranteed retirement benefit of 1/80th of your annual salary for every year worked. There is the option to increase your pension (to 1/65th) or decrease (to 1/105th) in exchange for salary through our flexible benefits programme each year. The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time. A discretionary performance award based on a current award pool. An 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits. 26 days’ annual leave with option to buy up to 12 additional days through flexible benefits. Private medical insurance and income protection.

National Security Vetting Process

Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank's Privacy Notice.

Equal Employment Opportunity Statement

The Bank of England welcomes applications from all candidates, regardless of age, disability, ethnicity, gender, gender identity, nationality, race, religion, sexual orientation, or socioeconomic status.