State Street Corporation, one of the world’s largest providers of financial services to institutional investors, has officially opened its new green offices in Hangzhou, marking a new phase of the firms business expansion in China and underscoring its commitment to environmental sustainability.
State Street will occupy five floors of the new premises at Hangzhous West Lake district. In doing that, the extra space will enable the firm to implement expansion plans in its Hangzhou-based technology solutions operation.
State Street has been actively involved in Chinas financial landscape since 1997, working with many of its leading financial institutions. In 2005 it established its first presence on mainland China when it opened a representative office in Beijing.
“Were excited to build on our decade long presence here with our global leadership in technology solutions, said Joseph Antonellis, vice chairman of State Street Corporation, who presided over opening events this week in Hangzhou. Our new Tian Tang offices here in Hangzhou underscore our commitment to China and will enable us to expand the products and solutions we provide for our clients.”
State Streets office in Hangzhou was established in 2001 in partnership with Zhejiang University to develop technology solutions for State Street, its clients and the industry and today now employs more than 1,000 individuals in fields including software development and technology support, fund accounting, reconciliation and portfolio accounting system sales and support.
The new offices opened for occupancy in October last year and State Street has been gradually relocating its Hangzhou employees to the new facility from its previous office space in the nearby Buynow building. Tian Tang has approximately 20,000 square meters of floor-space and the capacity for 2000 work-stations.