The Bank of England is to spread its empire from Threadneadle Street to Moorgate as it decides on a home for the new City regulator.
The Bank has been looking for a building in the Square Mile to house the new Prudential Regulation Authority, which will be formally created next year when the Financial Services Bill is passed and the Financial Services Authority is split into two.
Sources say it has settled on 20 Moorgate – a few hundred yards away from its current headquarters – to house the PRA's 1,000 staff from next year after a 12-month hunt by its agents Drivers Jonas Deloitte. The Bank also considered the Walbrook on Cannon Street – now owned by Delancey – as well as Nomura's King Edward Street building. The move to 20 Moorgate will see the PRA occupy the present home of blue-blooded broker Cazenove.