TD Securities - a division of Canada's largest lender by assets, Toronto-Dominion Bank - has chosen Dublin as its post-Brexit EU hub and plans to establish a bond-trading business here.

The company has over 25 million global customers and employs 3,800 people in 13 offices around the world.

TD provides capital markets products and services to corporate, government and institutional clients.

It currently employs just under 300 people at its London business and already has a small operation in the IFSC in Dublin, known as TD Global Finance, which trades global shares as well as interest rate and credit products.

The company currently employs around ten people at its Dublin office, and it is understood its staff levels here will double over the next 12 months as a result of today's announcement.

Although the move will initially result in a relatively low number of new jobs at the lender's Irish operation, the number of new roles here would be expected to rise over time.

The announcement follows a meeting between Taoiseach Leo Varadkar and senior executives from TD Bank in Canada yesterday.

Speaking afterwards, Mr Varadkar welcomed the announcement, saying that TD had considered a number of different locations.

He said the IDA  did a lot to convince them to come to Dublin

Vice Chair and Regional Head Europe & Asia-Pacific at TD Securities Peter Walker said the move will "position us well for all outcomes of Brexit negotiations".

The IDA welcomed the announcement, adding it had been "working closely" with TD Securities since the Brexit vote in June 2016.

The move is a welcome boost for the Irish financial services sector, which has so far managed to attract a relatively small number of financial institutions to relocate here due to Brexit.

Lenders that have already chosen Ireland as an EU base once the UK leaves the bloc include JP Morgan, Barclays, and Citigroup.

Mr Varadkar has also turned the sod on a new park in Toronto dedicated to the memory of Dr George Robert Grasset and other members of the medical profession who died from disease contracted from the destitute Irish migrants that came to Canada in 1847.  

In the summer of that year, 38,000 Irish migrants arrived by ship to the waterfront in Toronto - then a settlement with a population of 20,000 people.

Many of the migrants were suffering from thyphus and cholera, leading to the establishment of fever sheds to help them.

 Dr Grasset began working in a newly-opened emigrant hospital to serve the migrants, but died of typhus one month later.  Other doctors and nurses also died from disease.  

The park, which will feature an elaborate glass structure, is an initiative of the Ireland Foundation, a foundation dedicated to celebrating the story of the Irish in Canada.