State Street opens CoE in Hyderabad
State Street Corporation, one of the world\'s leading providers of financial services to institutional investors, on Tuesday announced the opening of a new centre of excellence (CoE) in Hyderabad and expanding its facility in Bengaluru.
Hyderabad: State Street Corporation, one of the world's leading providers of financial services to institutional investors, on Tuesday announced the opening of a new centre of excellence (CoE) in Hyderabad and expanding its facility in Bengaluru.
“We are happy about State Street choosing Hyderabad as one of its key offices in India. We believe this partnership will enable both the corporation and Hyderabad to grow together,” said Telangana IT Minister K T Rama Rao, while inaugurating the new centre.
State Street currently has 2,800 employees in India based in offices in Bengaluru, Mumbai and Hyderabad. Over the next 12 months, the company will expand its existing facility in Bengaluru and build the new centre in Hyderabad.
State Street Chairman and CEO Jay Hooley said the company established a presence in India 10 years ago and today it was a key component of its centre of excellence network. "This network gives us the coverage necessary to deliver services to clients more effectively and efficiently.
Adopting a 'follow-the-sun' model enables us to take advantage of time zone differences to optimize workflows and deliver more timely services to our clients," he said.
Michael Brager, Senior Vice President and India country head at State Street, said with this expansion they will tap into India's deep pools of talent and high-calibre graduate population. "These offices will create new employment as well as additional career opportunities for our existing employees across a range of management and technical positions," he added.