On Air Night Flight | Midnight - 6:00am

IOM vies for finance centre awards

Two Manx firms also reach shortlists

The Isle of Man has reached the shortlist stage for two awards recognising successful finance centres around the world.

A finalist in the Best International Finance Centre category in the  International Investment Fund and Product Awards, the Island is also in the judges' sights as IFC of the Year at the annual Citywealth awards.

The Island won a similar title earlier this year, when it was named  International Finance Centre of the Year at the International Adviser, Product and Service Awards.

Two local companies have also received nominations.

RL360 has been nominated in three categories in the Fund and Product Awards, while Cannacord Genuity Wealth is in the running for Citywealth's Investment Management Company of the Year title.

Martyn Perkins MHK, member for financial services in the Department of Economic Development, says diversification and new initiatives are responsible for a 'thriving' sector.

He cites the DED's £50 million Enterprise Development Fund, the Alternative Banking Regime, crowdfunding regulation and ongoing reviews of financial legislation.  

More from Isle of Man Business