Sirius has closed its City office so staff can spend more time at its Solihull head-quarters.

The office, in Gracechurch Street, officially closed at the end of last year due to lack of use, according to a Sirius spokesman. However, market sources suspect this was more likely to be part of a cost cutting exercise.

Executive director Mike Dodd and his personal assistant will be working from the Solihull offices but he said he would regularly be back in London for meetings.