State Street to establish cybersecurity unit in Ireland

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tate Street Corporation has announced its plans for a 400-strong team in Ireland to provide technology infrastructure and cybersecurity services. Currently, State Street employs close to 2,000 staff in Ireland having been in the country for 25 years. The firm selected Ireland due to its relevant and skilled technology talent, existing and emerging, from universities and third-level institutions. In addition, the bank needed a location outside the US for timezone purposes.

Furthermore, the arm will be located at IDA Ireland Business and Technology Park in Kilkenny where State Street has already placed 600 staff. It is also developing a new office there. Tadhg Young, State Street’s head of Ireland, said: “Ireland’s tech ecosystem and financial services credentials alongside Kilkenny’s central location and access to talent from third level institutions in Dublin, Carlow, Waterford and beyond were all compelling factors in our location decision. I wish to thank the IDA for their continuing support of State Street, and I strongly encourage anyone seeking a new career opportunity in a great location and with great prospects for professional development to check out our new roles.”

Leo Varadkar, Tánaiste and Minister for Enterprise, Trade and Employment said: “This is a fantastic boost for Kilkenny. State Street, which already employs 600 in its Loughboy office and approximately 2,000 across the country has chosen to locate a new cybersecurity and technology unit in the county, creating up to 400 new jobs over the next 2 years. Ireland’s highly skilled and experienced workforce continues to attract the very best investment across the country.” Ireland is not the only focus as State Street appointed new country heads for Germany, Luxembourg, and Switzerland to further sharpen its focus on the European market.

The firm appointed Andreas Niklaus as the head of Germany, Riccardo Lamanna as the head of Luxembourg and Dagmar Borens as the head of Switzerland. The new hires will focus on developing business, stewarding client engagement, developing talent, and building the company’s brand and market network in their respective market.