A global leader in the financial services sector and listed on the New York stock exchange – State Street, is opening an office in Gdansk. It is the most significant investment venture so far within the business services sector in the Pomeranian region and one of the largest in Poland over recent years. The company plans to employ more than 300 employees next year and its office in the Alchemia complex will occupy an area in excess of 14,000 square meters which can accommodate more than 1,000 employees.
State Street is the second oldest American financial services institution and employs almost 30 thousand people in 29 countries worldwide. Unlike retail banks it does not manage bank accounts or offer loans. It is a custody bank with its main activities focused on the safekeeping of assets, investment advisory services, market research, trading and investment performance analysis. It also provides a range of other tailored solutions to its institutional client base. The company operates through four distinct divisions: Global Services, Global Advisors, Global Exchange and Global Markets with around USD 28 trillion under custody and administration.
The decision resulted from a complex location study and ultimately Gdansk was identified as the preferred location. The city was required to satisfy several key criteria and significance was placed on the accessibility of qualified staff, the presence of reputable and cooperative universities and high quality office space with supporting communication and infrastructure. The investor also placed great value on the effective cooperation with local authorities.
“We appreciate the engagement of the local authorities supporting our project. The office space in Gdansk can accommodate more than 1,000 employees. We plan to create roles in Gdansk for both experienced professionals from the finance sector and new graduates of the local universities. New employees in the Gdansk office will be providing the same services as their colleagues working in other State Street’s offices across the globe like, London, Boston and Hong Kong,” said Scott Newman, Managing Director of State Street Bank Poland.
To ensure the realization of such significant employment plans it is important to enter into close cooperation with the universities within Tri City and the broader region. State Street Bank Poland offers a comprehensive learning and development program for students through its well-developed university relations strategies and will be looking to leverage that from the Gdansk office. The Investor assessed the whole financial sector, together with graduates of all financial and economics faculties but added that suitable high caliber graduates from other faculties will also be employed.
“State Street’s investment in Gdansk will ensure a range of new career opportunities. It’s an opportunity to widen the scope of employment on the metropolitan job market, which is a positive message. The size and potential of the investment proves also that our market has a qualified talent pool, and can secure staffing for the most demanding projects,” said Paweł Adamowicz, Mayor of Gdansk.
This American investment gives testimony that Tri City is among the most attractive locations for the complex financial services sector and is perceived as a balanced, consistently-growing market, providing optimal conditions for long term growth as well as offering a high quality of life.
“This significant development by a world’s leader in the financial services on our market confirms that the course of development in Pomerania was correctly planned. It’s also resultant from proper cooperation between Tri City business, representatives of local authorities and partners of the Invest in Pomerania initiative,” said Mieczysław Struk, Marshal of Pomerania.
The investor has chosen office space in the multipurpose Alchemia complex, which is among several top class business parks available in the city. Alchemia is under development by Torus and is currently under construction in Gdansk.
“We have managed to satisfy the expectations of an international corporation, which is further proof of Alchemia’s high standard, but also of immense commitment from the whole Torus team. The agreement signed with State Street is the largest in terms of a commercial lease contract, both for our company, and for the Pomerania region,” explained Sławomir Gajewski, Torus CEO
State Street’s Gdansk office will be the second location of the company in Poland which has otherwise been present in Krakow since 2007. The decision followed the positive evaluation of our human resources market and availability of qualified staff with good command of foreign languages. Since its commencement the investment project has been fully supported by the ‘Invest in Pomerania initiative’, in particular, by the Pomeranian Development Agency and the Gdansk Economic Development Agency (InvestGDA).
“As contributors to the Invest in Pomerania initiative and in partnering directly with the investor, we recognize the importance of meeting investor needs. The investment announcement today is evidence of our increasing credibility and attractiveness to global companies exploring the opportunity to develop within the Pomeranian region. Pomerania has much to offer in terms of human resources, quality real estate, communications, infrastructure and quality of life,” commented Łukasz Żelewski, ARP CEO.
“State Street is one of the most important investments within the complex business services sector of Gdansk in recent years. The company’s new office creates career opportunities for specialists in finance and banking, an opportunity to develop their professional qualifications and gain valuable experience with a leading global financial services provider. Within the ‘Invest in Pomerania’ team’s efforts we will do our utmost to ensure the long term success and commitment of the investor,” summarized Alan Aleksandrowicz, InvestGDA CEO.