Saving the day: How helping employees save could have ‘immediate and direct impact’ on thousands of families
Helping your employees to start saving money could transform their lives – so Co-op boss Shirine Khoury-Haq and Manchester metro mayor Andy Burnham joined up to encourage bosses to think of new ways to support their colleagues.
Many people in the UK workforce are struggling to put money aside for rainy days, as the cost of living crisis has continued to hit hard. That leaves them vulnerable to financial shocks and means their mental health can suffer as they worry about their debts and their finances.
Now employers are being urged to support their workers by launching opt-out saving schemes to help people get their savings pots started.
While auto-enrolment for pensions has become the norm, most workplace savings schemes are opt-in. But the Co-op and other employers including Bupa have been trialling auto-enrol schemes where their staff are signed up to savings schemes automatically until they choose to opt out, meaning small amounts are taken out of every pay packet and put into instant access savings accounts.
They say the schemes have been a hit with staff. And the Co-op’s CEO Ms Khoury-Haq said that if more companies introduced such measures, it could have an “immediate and direct impact on the financial resilience of thousands of individuals employed in Greater Manchester and the North West ”.
She spoke at a Talk Money Week event at the Co-Op’s Manchester headquarters, organised with financial innovation centre Nest Insight which is working to promote financial security in the UK.
Ms Khoury-Haq said: “The experience of our Co-op in offering a workplace savings scheme has been hugely positive for us as an employer and also for our co-op colleagues.”
The Co-op CEO said the Co-op regularly surveyed its 55,000 colleagues, and had found that one-off expenses can pose “significant financial difficulty” for those without savings and who have “little or no give.”
Those team members, she said, “have told us that starting to save is a huge challenge for them”. So instead the Co-op has worked with Nest Insight to launch an opt-out savings scheme. Of those auto-enrolled, 7/10 have continued saving.
Ms Khoury-Haq said: “The default solution for colleagues is to start saving small amounts unless they actively say they don’t want to.” And she added: "We think this approach could be as transformative as the intro of auto enrolment for pensions.”
And she added: “Now that we know the approach works we’re really keen to encourage other employers to do the same”.
Encouraging savings could, she said, support anti-poverty strategies across the region. And she said that helping people start saving is a “simple yet effective measure that employers have the power to make happen”. Ms Khoury-Haq said the Government should promote auto-enrolment in savings schemes.
Mayor Burnham smiled that in Talk Money Week, he had “had the ultimate talk money conversation” just the same morning, as Chancellor Rachel Reeves had been in town. He smiled: “We need more (money) in Greater Manchester. It pretty much went like that.”
The mayor pointed to the most recent GM Residents' Survey, in which 51% of people said they would be unable to afford an immediate but essential expense of £850.
He said that lack of savings hit people’s mental health, and their ability to work and even sleep. And he said the rise in the number of families in temporary accommodation over the past decade was a sign of the financial struggles so many people were facing.
The mayor added that often “you take it for granted that you live your life with savings behind you. But what happens if you don’t?” He welcomed the Co-op’s pilot auto-save scheme, and said he wanted to help people in the region to move beyond the debt “dragging them down”.
The first panel discussion saw representatives from businesses who have implemented auto-saving share their insights with sector leaders.
Alex Henley, wellbeing consultant at Co-op, said the number of colleagues with savings had grown since the scheme was introduced, and said colleagues wanted their employer to help them get started
He said: “The really important thing is just how empowering this is for colleagues… it does give them security and dignity. It restores people’s sense of self-worth and gives them confidence.”
Katie Duxbury, head of pay and reward services at Bupa, said her business had implemented an auto-save scheme after seeing low-take up on two earlier voluntary savings schemes. She said it had felt like the right thing to implement after colleagues reported being put under pressure by the cost of living crisis – and said staff had welcomed the scheme.
Katie smiled: “Nobody ever rings payroll on payday to say thank you”. But after their savings scheme was introduced, the team did get a call from a colleague saying thanks because they now had savings for the first time.
And she said the scheme meant some colleagues were now able to do more shifts, because they had the financial cushion to be able to pay for their travel to work. Asked about implementing the scheme, she said: “It’s really easy to switch this on.”
Roger Shelton, CCO at Sheffield credit union Transave UK, is working with 60 employers on savings schemes and is helping people who have never saved properly before – including one person who just had some cash in a box under the bed.
He said auto-savings schemes could encourage people who were putting off saving to make a real start. He said: “It’s like the gym – we mean to do it but don’t necessarily do it.”
Jo Phillips, director of research and innovation at Nest Insight, talked about the impacts of people’s financial struggles on their work and on their mental health. She said saving is too often seen as being about financial education, but that it’s not a knowledge gap that’s the issue - people know they need to save, but can’t.
Auto-enrolment in savings schemes, she said, is one solution. She added: “It’s not about removing choice…all we’re doing is making it easier for people to start saving. We’ve flipped the default.”
Jo said that at the Co-op, the auto-enrolment scheme had seen the number of colleagues saving regularly rise from 10% to well over half. And she said feedback had been positive: “We see people talking about control and empowerment”.
The second panel discussed how encouraging saving could help the people of Greater Manchester.
Ian MacArthur, director of the GM Good Employment Charter, said that in the 2010s when employers talked about health and wellbeing they “probably meant a fruit bowl and a yoga class”. But since the pandemic employers had become more aware of the need to support their teams’ mental and financial health.
Looking at auto-enrolment in saving, he said employers could look to work with local credit unions rather than global banks.
And he concluded: “My selling point is this – it’s going to cost you nothing and you’re going to give your employees something, something potentially valuable. This is an absolute gift. Use it.”
Rose Marley, CEO of Co-operatives UK, said co-ops were one of the North’s biggest global success stories – but sometimes little known in the UK. She talked about supporting employees with saving and said “This is an innovation opportunity for all forms of business”.
Recommend
Professional Services
Changes at the top announced by North East legal company Jacksons Law Firm
Changes at the top have been announced by North East legal business Jacksons Law Firm as it closes in on its 150th anniversary. Two new top roles have been created at the business, which has bases in Newcastle, Stockton-on-Tees and Sunderland, after Tony Wentworth announced he is stepping down from his role as managing partner. Erica Turner, partner and head of commercial property, is to take up the role of head of legal at the firm, while Amie Callan becomes head of operations. The pair said they are looking forward to taking Jacksons, which was named Law Firm of the Year at the recent Northern Law Awards, further forward ahead of its 150th trading year in 2026. Ms Turner said: “It is a privilege to be at the helm of Jacksons as it approaches its 150th year. I joined the firm in 2004, working alongside studying at university, and did not ever anticipate that 20 years on, this would be what the future held. This is testament to the mentoring, development and career opportunities that the firm provides - and which I am committed to delivering and developing moving forward.” She added all successful businesses have to remain dynamic to succeed - and Jacksons is no exception. “We’ve proven that, notwithstanding the firm’s heritage, the firm remains relevant, ambitious and successful as the firm’s recent Law firm of the Year and Practice Management Award wins demonstrate,” she said. “Within our strategic planning, we are constantly looking at how we can do things differently and better.” Ms Callan, who joined the firm in 2018, said: “We have a dynamic and fast-paced partnership with a results-driven approach that drives change and improvements in all areas, from client experience through to employee culture. This would not have been possible without the support and mentoring of others such as Tony, Jane Armitage and Erica, showing the great stewardship of the company but also the role the culture plays in succession and ensuring people have the skills to succeed.”
Professional Services
Sainsbury's continues financial services exit with £720m Argos credit card sale
Sainsbury's has finalised an arrangement to offload its Argos credit card portfolio for an estimated £720m, moving away from financial services to concentrate on its core retail operations. The supermarket chain has indicated that the deal is set to conclude at the end of the first quarter of 2025 and the sale price closely matches the loan balances and related provisions for the portfolio, as reported by City AM. This latest agreement with the London-headquartered NewDay Group is a continuation of Sainsbury's strategic shift towards bolstering its retail division following earlier, lacklustre efforts to boost competition in the banking industry. Previously, in June, Sainsbury's entered into an agreement with Natwest for the latter to take over the bulk of Sainsbury's Bank, and then proceeded to sell off its network of cash machines three months thereafter. Sainsbury's doled out £125m to purchase its banking arm from Natwest, but anticipates that Sainsbury's Bank will ultimately reimburse the grocer with at least £250m in surplus capital to be distributed among its shareholders. This move took place four months after Tesco divested its principal banking segment to Barclays for £600m, aligning with its "food first" initiative. After these transformations, Sainsbury's financial services division now primarily generates commission-based income by levying fees on partners allied with its brand and store locations. The retailer envisages an annual revenue of no less than £40m through March 2028, which would be sourced from its insurance, foreign exchange, and automated teller machines (ATMs), as well as earnings from the freshly established partnership with NewDay. Sainsbury's has revealed that the Argos credit cards account for approximately 20% of the brand's sales and are used by around two million customers. The company further stated that there will be no immediate changes for customers as a result of this deal. NewDay, a provider of credit to shoppers, took over the John Lewis Partnership's rewards card from HSBC two years ago. HSBC has been the owner of M&S Bank since 2004. Over the past twenty years, supermarkets have been exploring ways to generate additional revenue from their customers beyond food and drink, including ventures into telecommunications, broadband, restaurants, energy and more.
Professional Services
Former JP Morgan man leads acquisition of £3.5m stake in Atom Bank
A former JP Morgan executive is at the helm of bid to buy a stake in North East-based challenger bank Atom, it has been reported. Sanjiv Somani, who led the US giant's digitally only Chase UK bank until last year, is leading investment firm Lexham Partners, which was set up last year by venture capitalist Dominic Perks. The firm is said to be negotiating the purchase of a stakeholding from existing shareholders. The move, which was first reported by Sky News, means Mr Somani - who also led digital wealth manager Nutmeg after its acquisition by JP Morgan in 2021 - will manage the stake in Atom. Lexham is reported to be looking at £3.5m worth of stock at 40-per-share, valuing Atom at £400m. It comes a year after Atom raised £100m in new equity capital from long-term shareholders BBVA, Toscafund and Infinity Investment Partners - money which was used to boost balance sheet growth. At the time, Atom said the funding round formed part of a long term strategy to "deliver a liquidity event in the future". with CEO Mark Mullen saying the bank was working to make itself a "credible candidate for IPO". In June Atom published results for the year to the end of March 2024, in which it said it had generated a 600% increase in operating profit to £27m. Net interest income was boosted 31% to £99.5m thanks to strong loan book growth of 39% to £4.1bn on the back of growth in residential mortgage balances to £3.2bn. The results were said to be the best since the bank's launch in 2013, and also saw operating income rise to £88.3m from £65.8m, while the pre-tax profit of £6.7m was compared with the previous year's pre-tax loss of £10.1m. The bank, which has switched to a four day working week, also grew its headcount, surpassing 500 staff. In May, Atom appointed former Virgin Money chief financial officer Lee Rochford as chairman. Mr Rochford was instrumental in Virgin Money's stock market flotation in 2014. At the time of its results, Mr Mullen said: "This has been our best year yet at Atom bank. We have achieved profitability across all measures, grown our loan book significantly, maintained robust credit quality, avoided fraud losses altogether, kept our costs tightly controlled and enhanced our already industry leading customer experience metrics. “We begin the new year with tailwinds in the form of strong asset pipelines, excellent technology, a highly engaged team, supportive investors and an enviable reputation with customers. Beyond the confines of banking, we have exciting plans to further reduce our impact on the planet and to create even more opportunities in our local community.
Professional Services
City law firms see partner fees falling for second year as regionals close gap
While the majority of law firms anticipate a rise in revenues this financial year, City partners are witnessing a gradual decline in their fees as regional law firms begin to close the gap, new data reveals. Professional service firm Crowe's latest report indicates that despite inflation hitting 11 per cent in 2024, nearly 40 per cent of firms have seen their revenues grow beyond this rate, as reported by City AM. The study, which included 56 law firms each with a turnover exceeding £1m last year, found that City partner fees have fallen for the second consecutive year to £1.5m, a one per cent decrease from the previous 12 months. Meanwhile, regional firms are making strides, with the average partner generating £955,000, marking a near six per cent increase from the previous year. When it comes to fees per fee earner (including partners), they rose by five per cent in City law firms to £284,782 and by three per cent in regional firms to £146,487. The report also highlighted that the headcount for fee earners in regional firms grew by almost 10 per cent and by over two per cent for partners. In contrast, City firms saw an increase of one per cent for fee earners and over six per cent for partners. Crowe further disclosed that the surge in interest rates has led to unprecedented levels of interest on client accounts, with 41 per cent of client account balances exceeding £1m, the highest reaching over £7m. The survey revealed that a significant majority (72 per cent) of companies reportedly generated over £250,000 in interest from client accounts. The study also pointed out a shift in workplace dynamics, with law firms considering changes to flexible working systems - 66 per cent anticipate staff being in the office for more than half (50 per cent) of their time. The survey suggested that the drive for office attendance has predominantly come from regional firms, with 75 per cent expecting employees to be in the office three or more days a week, compared to just 50 per cent of City firms.
Professional Services
Scunthorpe accounting firm Jackson Stapleton secures £150,000 funding deal
A Scunthorpe accountancy is set to take its growth to the next level on the back of a £150,000 funding package. Jackson Stapleton Accountants, which was established in 2017, has secured the funds from the Midlands Engine Investment Fund II, following assistance from fund manager for the East and South East Midlands, Maven Capital Partners. The business expanded its UK footprint in 2021 through the acquisition of a Lincoln-based office, previously known as Fawcett & Co. Now the new funding will allow the business to grow further and develop its client base, through the addition of a practice in Retford. Mark Jackson-Stapleton, managing director at Jackson Stapleton, said: “In September 2024, we proudly acquired our third office in Retford, formerly known as Mill Accountancy. This acquisition marks another significant milestone in our journey, as we remain committed to surpassing past successes and setting new standards of excellence in accounting services. "We believe that by continually investing in advanced technology and the ongoing development of our staff, we can offer more efficient and tailored services to meet the evolving needs of our clients. I would like to extend my sincere thanks to Richard and the Maven team for their excellent support in securing the necessary finance for this acquisition. Their expertise and dedication have been invaluable to our continued growth.” Richard Altoft, investment director at Maven, said: “Maven are excited to be supporting Jackson Stapleton through the Midlands Engine Investment Fund II as it expands its business. The business has a highly experienced management team, capable of growing the business and taking its service offering to the next level. “ David Tindall, at British Business Bank, said: “It is great to see finance from the Midlands Engine Investment Fund II being used by Jackson Stapleton Accountants to build on its success and explore new opportunities for growth and expansion while creating a positive impact in the local economy in the Midlands.”
Professional Services
Lancashire officials urge faster rollout of banking hubs to revive high streets
The rollout of banking hubs designed to fill the void left by the decline of traditional high street branches is not happening quickly enough in Lancashire, according to county councillors. They argue that Lancashire needs more such hubs, which are opening nationwide, to maintain face-to-face services in town centres abandoned by banks. To date, only two such facilities have been launched in the county, with another four in the pipeline. These hubs offer a range of banking services that were once commonplace on most high streets until the collapse in branch numbers began about a decade ago. Unlike their predecessors, these new hubs serve all customers, regardless of their banking affiliation. They cater to individuals and businesses who need or prefer cash transactions, as well as ensuring banking access for elderly and disabled residents who may find transitioning to digital banking challenging or undesirable. At a Lancashire County Council meeting, members unanimously agreed to form a working group to investigate how the establishment of banking hubs could be expedited in areas most impacted by the dismantling of the branch network. County Cllr Matthew Maxwell-Scott, who proposed the initiative, commented: "With the exception, perhaps, of our largest towns, the bank is finished...but banking isn't – and this is a way of keeping it going.", reports Lancs Live. He also mentioned that "some pressure" should be applied to Cash Access UK, the entity responsible for the new hubs which operate under Post Office branding, to expedite their introduction in Lancashire. "The decline of the high street bank is perhaps something that we mourn, but ultimately, as a consumer, I don't want to be paying for bricks and mortar that don't really deliver anything that I need, that then results in higher fees and charges." However, he acknowledged the necessity for certain demographics, stating: "But...for those who do require more support – often older citizens [and] those who run cash small businesses – they still need the [services] of...a high street bank. The banking hubs effectively replicate those," explained County Cllr Maxwell Scott, representing Lancaster Rural East. Currently, only two such hubs have been launched in Lancashire, located in Barnoldswick and Great Harwood, with plans for additional hubs in Bacup, Darwen, Kirkham, and Morecambe. Notably, Bacup and Morecambe are slated to open in February and September 2025, respectively. Banking hubs operate from 9am to 5pm, Monday through Friday, and some feature 'community bankers' from specific banks who visit on predetermined days, allowing customers to discuss complex issues with a representative from their own bank. The UK has seen over 6,000 bank branch closures since 2015, as reported by the consumer group Which? earlier this year. County Councillor Noordad Aziz highlighted at the meeting the need to address cash availability beyond banking hub hours. "If you look at the number of free-to-use cash machines that have disappeared from our high streets across the county, they are significant," he remarked. He also pointed out that those ATMs which charge for withdrawals can impose "a significant amount of money."
Professional Services
Bank of England announces rate cut amidst Budget implications
The Bank of England has reduced interest rates by 25 basis points, indicating a "gradual" approach as the Budget's impact permeates the economy. Eight members of the Bank's Monetary Policy Committee (MPC) voted in favour of the second rate cut this year, with only Catherine Mann opposing. This brings the benchmark Bank Rate to 4.75 per cent, down from a high of 5.25 per cent. The Bank made its first interest rate cut since the pandemic in August. Market expectations were met with this decision due to recent progress on inflation. Data released last month revealed that the headline rate dropped to 1.7 per cent in September, the lowest since April 2021. Underlying inflation indicators, such as services inflation and wage growth, have also continued to ease, suggesting a decrease in domestic price pressures, as reported by City AM. "If the economy evolves as we expect it's likely that interest rates will continue to fall gradually from here," stated Andrew Bailey, Governor of the Bank. However, Bailey emphasised that the Bank "can't cut interest rates too quickly or by too much" due to ongoing worries about inflationary dynamics. Specifically, the Bank highlighted the potential inflationary effects of the new government's inaugural Budget. Chancellor Rachel Reeves unveiled approximately £40bn in tax hikes last week, which are set to underpin a £70bn average annual increase in government spending. According to the Bank's latest projections, this blend of tax increases and heightened expenditure is expected to elevate inflation while simultaneously stimulating growth. The Bank's officials have estimated that due to the Budget's implications, inflation could rise by about half a percentage point, potentially reaching a peak of 2.75% in mid-2025. They anticipate that inflation will realign with its target by early 2027, which is roughly a year beyond their previous predictions. The report also highlighted uncertainties surrounding the inflationary effects of the rise in employers' national insurance contributions. Bank experts indicated significant ambiguity regarding the impact of the tax increments, noting that outcomes would hinge on "the degree and speed with which these higher costs pass through into prices, profit margins, wages and employment". In contrast to the Office for Budget Responsibility's outlook, the Bank foresees businesses absorbing a larger portion of the increased expenses within their profit margins, rather than reducing employee wages. Nonetheless, it was implied that the fiscal measures would likely lead to a "small decrease in potential supply" and exert a "small upward impact on inflation". Furthermore, the Bank suggested that the Budget would bolster growth by about 0.75% relative to the forecasts made in August. This adjustment could see the annual growth rate in 2025 surge to 1.75%, an increase from the current year's projection of around one percent. "This reflects the stronger, and relatively front-loaded, paths for government consumption and investment more than offsetting the impact on growth of higher taxes," stated the Bank. Growth is then projected to decline to 1.1 per cent in 2026 as a degree of spare capacity builds in the economy. This mirrors both the restrictive stance of monetary policy and fiscal tightening. The forecasts were predicated on the assumption that the Bank Rate would drop to around 3.75 per cent by the end of next year. Traders have already adjusted their expectations for rate cuts as a result of the Budget, anticipating just two or three rate cuts in 2025. Setting aside the potential inflationary impacts of the Budget, Bank officials continued to highlight concerns about the persistence of services inflation. Services inflation, which is viewed as a good measure of domestic price pressures, dropped to 4.9 per cent in September, significantly below the Bank's expectations. However, Bank officials cautioned that some of the decrease in services inflation was driven by "volatile categories", some of which are expected to unwind. "Services price inflation was expected to remain broadly unchanged over the next six months," it declared.
Professional Services
Shawbrook Bank's loan and deposit books surpass £15bn amid robust demand in real estate
Shawbrook Bank has announced that its loan and deposit books have surpassed £15bn for the first time, following a surge in lending demand during the first nine months of the year. In today's trading update covering the first three quarters, the retail lender reported an 18 per cent annualised increase in its loan book to £15.1bn, up from £13.3bn the previous year, propelled by "strong net lending volumes across our core specialist real estate and SME markets", as reported by City AM. The bank's deposit book also experienced significant growth, expanding by 16 per cent to over £15.2bn, compared to £13.6bn last year. "Demand for the premium experience, flexibility and certainty we offer across our specialist lending markets remains robust, with both our loan and deposit books exceeding £15bn for the first time," Marcelino Castrillo, Shawbrook Bank's chief executive, commented. "We have maintained our focus on re-weighting our lending mix while leveraging our agility in the deposit market, contributing to a stronger underlying return on tangible equity for Q3." "Investment in the continuous evolution of our proposition to stay ahead of customer needs, expectations and trends remains our strategic focus." However, the bank did note an uptick in the number of clients in arrears, rising to 2.8 per cent from 2.3 per cent, a figure which the firm stated remains within its credit risk appetite. "As we look ahead, we continue to see promising opportunities for expansion and value creation across our core markets, including SME and Real Estate," Marcelino further added.
Professional Services
Profits rise at Womble Bond Dickinson following year of sustained growth
The region’s biggest law firm has highlighted sustained growth and client successes following a jump in profits in a shorter trading year. Newcastle based Womble Bond Dickinson UK LLP, formed when Bond Dickinson merged seven years ago with US firm Womble Carlyle Sandridge & Rice to create a trans-Atlantic practice, moved its accounting reference date, leading to the the firm posting strong results for an 11-month period. Published accounts for the period ending March 2024, show a drop in turnover from £116.9m in the 12 months to April 2024, to £114.6m, in the 11 months to the March 31 2024. Operating profit, however, rose from £24.2m to £26.7m, while pre-tax profit jumped from £24.1m to £28.7m. Total members interest also increased, from £37.4m for the group to £37.8m The accounts detail how profits are shared among the members in accordance with agreed profit sharing arrangements and that members are required to make their own provision for pensions from their profit shares. During the year there were 99 members, two more than in 2023. With its head office in Newcastle, the wider Womble Bond Dickinson group has bases across the US and UK, with offices in London, Bristol, Edinburgh, Leeds, Newcastle, Plymouth, Southampton and Teesside. The company made significant investments in the North East two years ago, moving more than 400 employees from its former offices on Newcastle Quayside to new sustainable offices within The Spark at Newcastle Helix quarter. It also refurbished its Leeds office and expanded its presence on Teesside. Following on from the investments the company said its 2023/24 year had seen it roll out its new strategy “giving clarity to our vision, our position in the market, the types of work we will target for growth and where we need to focus in order to achieve our ambitions”. A report within the accounts highlights how it made a number of key hires during the year, extended its work with US bases and also secured a number of legal panel appointments. The report says: “Sustained growth and client success continues to headline our day-to-day work. We were appointed to the legal panels for clients including Atom Bank, Bellway Homes, HydraB Group, Natwest and Shell International, and acted as lead advisor on landmark work with clients across the UK, including Centrica, The Department for Energy Security & Net Zero, Lloyds Bank, LV and RES. “Collaboration with our US colleagues increased significantly, led by our brand refresh and first global awareness marketing campaign. We worked together on more international tenders and cooperated on various joint thought leadership projects. “Our expertise continues to be recognised by the wider market. We won Planning Law Firm of the Year at the 2023 Planning Awards and our IP dispute management team won Impact Case of the Year at the EMEA Managing IP Awards. We were also named in key publications such as The Times Best Law Firms report and in legal directories including The Legal 500 and Chambers and Partners, being particularly commended for our experience in energy, renewables and planning.”
Professional Services
Research consultancy Kada choses Gateshead for second UK base
A consultancy specialising in economic development work has chosen Gateshead as its second office in the UK. Sheffield-based Kada research has already been working in the North East and has now decided to launch permanent base in Gateshead's Baltic Quarter. A handful of highly skilled research jobs have been created in the move which sees the firm take space in Baltimore House. Kada specialises in creating evidence-based reports and recommendations for clients including governmental bodies, academic institutions and community organisations. Its team has already worked with the former to research "inclusive productivity" for the Our Economy 2023 report, and has produced a Digital Framework for Hull and East Yorkshire LEP, among other projects. Newcastle and Gateshead’s destination and inward investment agency, NewcastleGateshead Initiative (NGI), initially supported Kada in its search for office space, and continues to provide introductions to key partners in the region. Karl Dalgleish, Kada’s managing director, said: “Our economic development projects are place-based, and we like to be embedded in places to help deliver these. Gateshead and Baltimore House fits Kada’s ethos with similarities to Sheffield where the business originates.” Kada’s North East director, Sam Nair, added: “Having been based in the North East for nearly 15 years I am excited about what devolution will bring for the region and the opportunity to grow the Kada team in Gateshead. Kada is passionate about helping partners in Gateshead and the North East to achieve sustainable and inclusive economic growth and creating job and placement opportunities for young people at Kada too.” Jen Hartley, director of Invest Newcastle, NGI, said: “I’m pleased to welcome Kada Research to Gateshead. Their emphasis on economic and social impact research and inclusive growth strongly aligns with our regional priorities making this a great match. Wider participation and access is also a key focus for the work we do at NGI so I look forward to continuing to support their team as they grow and expand here.” Coun Leigh Kirton, cabinet member for economy and communications at Gateshead Council, said: "Kada Research’s choice to expand to Gateshead is a great reflection of our growing reputation as a place for forward-thinking businesses to invest. Their commitment to evidence-based insights and inclusive growth aligns well with our ambitions for the borough, and we’re proud to welcome Kada to Gateshead’s thriving business community.”