New Boston HQ planned for State Street

New CEO Ron O’Hanley makes second big move in his first month in the role by outlining new HQ plans for custodian in 2023.

By Jonathan Watkins

State Street will move to a new global headquarters in Boston in 2023 which will lead to lower overall operating and occupancy costs, the custodian has announced.

The headquarters will be located at Bulfinch Crossing – a major redevelopment project in downtown Boston which will create six new high-rise and mid-rise buildings.

The building – named One Congress – will break ground in the summer of 2019.

State Street said the design and infrastructure features and will enable it to lower costs and offer employees a working environment that will foster increased collaboration and productivity.

The building will be LEED (Leadership in Energy and Environmental Design) Gold certified – an independent standard that verifies sustainable building design.

“State Street has called Boston home for 226 years, and today’s announcement reinforces our continued commitment to this thriving and distinctive city,” said Ron O’Hanley, president and chief executive officer of State Street.

“The workforce of the future is pushing us to rethink how and where we operate. Employees in today’s highly digitised world need space to collaborate and access state-of-the-art technology that supports flexible working and connectivity to support our clients. We have seen great success with our Channel Center building in the Seaport that was designed for this purpose, and we are confident that One Congress will deliver an equally productive and successful environment.”