State Street Corporation , one of the world’s leading providers of financial services to institutional investors, marked the official opening of its new office building in Kilkenny.

State Street established its Irish operations in 1996 and has grown to become one of the largest international financial services employers in Ireland. With a presence in Kilkenny for over 20 years, State Street was the first company in the International Financial Services Centre (IFSC), to establish a regional base outside of Dublin. Today’s opening ceremony, hosted by the Minister for Finance, Michael McGrath, T.D. and by State Street chairman and chief executive officer Ron O’Hanley, signifies a major milestone in the firm’s ongoing commitment to the region and to Ireland.

“Our new office and global cybersecurity centre reflects State Street’s commitment to Ireland and our confidence in the South-East region’s exceptional talent pool” said Ron O ’Hanley, chairman and chief executive officer of State Street. “We are grateful to the Irish government for its support in our continuing journey to enhance our operational capabilities by leveraging Ireland’s exceptional workforce and its strength as a fund domicile and ecosystem.”

The availability of relevant and skilled technology talent from universities in the South-East region, alongside the need to support global operations outside of the US, are two of the key reasons for the firm to select Kilkenny as its regional base.

Welcoming the news, Minister for Finance, Michael McGrath said: “I want to congratulate State Street on this important milestone for their regional operations in Ireland. The Kilkenny operations are a vital element in the development of the international financial services sector in the South-East region and the cybersecurity centre is a testament to links they have developed with the third level institutions. State Street is one of the largest employers in financial services and I want to wish all the team in Kilkenny the very best and continued success as they build out their exciting new cybersecurity global business in the new offices.”

Located at IDA Ireland Business and Technology Park, the new state of the art building is also home to State Street’s recently established global cybersecurity centre of excellence, the only dedicated cybersecurity hub outside of the US, supporting the needs of its employees in over 200 geographic markets worldwide.

Terri Dempsey, country head of Ireland, added: “The establishment of this new office will amplify the work State Street has been doing in Kilkenny for over twenty years, deepening our connections to local community, businesses and institutions to nurture growth and innovation. Kilkenny’s thriving talent pool and dynamic innovation landscape make it an ideal base for our established cybersecurity fusion centre and enables us to actively promote female participation in the tech industry. Government policies and the continued support from the IDA have laid a solid foundation for State Street to grow together with the people of Kilkenny and for the prosperity of the region.”

State Street was recognised as the leading provider of fund administration services and custody services, and transfer agent in Ireland in The Monterey Insight 2023 report. Together with State Street Global Advisors, State Street’s asset management business, the firm has grown over the years to become one of the largest international financial services employers in Ireland.

In addition to its strategic importance to the firm, the modern building also reflects State Street’s strong commitment to environmental responsibility, including energy management systems, photovoltaic panels, and rainwater harvesting achieving BER A3 rating. The building has also integrated biodiversity elements and prioritised employee well-being with Fitwel certification, ample bicycle parking, walking trails, beehives, fitness hubs and diverse accessibility features to create a sustainable and employee-centric environment.

Source: State Street