Commenting on this development, Sarah Kelly, Lynx operations manager, IoM, said: "I am delighted with the positive effect that having a permanent base on the Island has had on our business. Existing clients benefit greatly from a Lynx representative being no more than 10 miles from their doorstep. In addition, three new Island-based customers have chosen to install our 4Series wealth management software over the past year."
Commenting on the move forward, Lynx's managing director, John Mosedale said: "My colleagues in Lynx wholeheartedly agree that we should consolidate our position in the Isle of Man with the creation of this wholly owned subsidiary. We will now focus on growing and developing Lynx Wealth Management Systems (Isle of Man) Limited through the continued evolution and promotion of our Banking, Fund and Trust products.
"We look forward to working with our existing clients and prospective customers to even greater mutual success in the years to come."
John Mosedale will be joined on the Board of the new company by Lynx plc Chief Executive Richard Last and Finance Director Paul Sinnett.