State Street opens new office building in Kilkenny

Global financial services company State Street Corporation has opened a new, state-of-the-art office building in Kilkenny, which it says reflects the company’s commitment to Ireland and confidence in the southeast region talent pool.

The Boston-headquartered provider of financial services to investors employs up to 2,000 people in Ireland, across its locations in Dublin, Kildare, Drogheda and 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 more than 20 years.

The availability of relevant and skilled technology talent from universities in the southeast region, alongside the need to support global operations outside of the United States, were two of the key reasons for the firm to select Kilkenny as its regional base.

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Located at IDA Ireland Business and Technology Park, close to State Street’s previous Kilkenny location, the new building is also home to the company’s recently-established global cybersecurity centre of excellence.

The new Ber A3-rated office building has sustainability features such as energy-management systems, photovoltaic panels and rainwater harvesting, as well as biodiversity elements and employee facilities such as fitness hubs, bicycle parking, walking trails and accessibility features.

Ron O‘Hanley, chairman and chief executive of State Street, said the new office reflects “State Street’s commitment to Ireland and our confidence in the southeast region’s exceptional talent pool”.

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“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,” he said.

Welcoming the news, Minister for Finance Michael McGrath said the Kilkenny operations were a “vital element” in the development of the international financial services sector in the southeast region, and the cybersecurity centre was a “testament to links they have developed with the third-level institutions”.

State Street employs about 46,000 people worldwide, and had $41.8 trillion (€38.57 trillion) in assets under custody and/or administration and $4.1 trillion (€3.78 trillion) in assets under management at the end of last year.

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