01 Jul 2022

State Street announcement 'a fantastic boost' for Kilkenny

Plans to establish a new specialist 400-strong team in the city

State Street announcement 'a fantastic boost' for Kilkenny

Kilkenny woke up to some good news this morning as State Street Corporation, one of the world's leading providers of financial services to institutional investors, announced their plans to establish a new specialist 400-strong team in Ireland to provide technology infrastructure and cyber security to support group operations globally.  

The new unit will be located at IDA Ireland Business and Technology Park in Kilkenny where State Street already employs approximately 600 staff and is in the process of developing a new state of the art office. Reflective of new ways of working post Covid and of staff preferences for flexibility and remote working, the new office could see office occupancy levels of up to 200% whilst drawing on a potentially broader staff pool along the east coast and midlands. 

The new unit will employ up to 400 high value, experienced and graduate level roles, across: programming, Security Operations Analysts, Security Instrumentation Engineers, Data Scientists, Security Architects (Network, Identify Access Management and BlockChain), Security Forensics/Investigations and Governance, Risk and Compliance experts.  The new roles will be filled on a phased basis over the next 12 months

"We are very pleased that Ireland and Kilkenny will benefit from this very substantial investment and the addition of high value, sustainable jobs,” said Tadhg Young, State Street's head of Ireland.

“Today’s jobs announcement, alongside plans for our new state-of-the-art office development in Kilkenny, marks a further strengthening of our presence and commitment to the region for years to come. 

“Ireland’s tech ecosystem and financial services nous have always been attractive selling points, which alongside Kilkenny’s central location enabling it to draw on 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 or new roles.” 

Welcoming the news, 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 2,000 across the country has chosen to locate a new cybersecurity and technology unit in the county, creating 400 new jobs over the next 12 months.  Ireland’s highly skilled and experienced workforce continues to attract the very best investment across the country. This announcement is further evidence of the phenomenal work the IDA is doing to attract and retain FDI in Ireland – the new unit will be based in the IDA’s Kilkenny Business Park. I wish all involved every success.”

State Street currently employs more than 2,000 staff in Ireland across Kilkenny, Dublin, Drogheda and Naas and approximately 39,000 employees globally.  The firm provides custody and/or administration services for assets exceeding $42 trillion and has approximately $3.9 trillion in assets under management. Reflecting the importance State Street attaches to cybersecurity unit will be exclusively focussed on meeting internal group requirements.

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