Canaccord Genuity is the first tenant of a multi-million- pound office development which has been described as being of ’London standard.’

55 Athol Street has been the subject of ’significant’ investment by the Tevir Group. It used to be the home of Zurich International before the company moved to the Isle of Man business park.

It promises to be a welcome tonic for the street, the traditional home for businesses including finance companies and advocates.

Canaccord has moved from Anglo International House in Bank Hill, and now occupies the ground floor of the new base.

Dermot Hamill, head of wealth management, Canaccord Genuity Isle of Man, said: ’The Athol Street development is a good example of the island providing the right environment in which modern businesses can flourish.

’We are very happy with our move, which restates our commitment to the Isle of Man and our clients.’

He also told Business News he was happy the firm was staying in the capital to do business.

Speaking after the visit of American strategist Tony Dwyer Mr Hamill said: ’We spent the last couple of months preparing for the move and we finally moved in last Monday.

’There is about 50% more space in the new office.’

He said the 20-strong Canaccord team includes four staff who came over following the acqusition of the private clients business of Thomas Miller earlier this year.

Mr Hamill said: ’It is nice to stay in town and the building itself is a London-style quality building. There is a gym downstairs and the landlord the Tevir Group is looking to attract a number of high quality tenants.’