State Street opens CoE in Hyderabad

State Street Corporation, a New York Stock Exchange-listed firm, today announced opening of a new Centre of Excellence (CoE) here, and an expanded facility in Bengaluru.

The company has 2,800 employees in India across its offices in Bengaluru, Mumbai and Hyderabad. Over the next 12 months it will expand its existing facility in Bengaluru and build a new centre in Hyderabad, it said in a statement.

Jay Hooley, State Street's chairman and chief executive officer, who was in India to officially open the new offices, said the company established a presence in India 10 years ago and has become a key component of the Centre of Excellence network.

"This network gives us the coverage necessary to deliver services to clients more effectively and efficiently.

Adopting a `follow-the-sun' model enables us to take advantage of time zone differences to optimise workflows and deliver more timely services to our clients," Hooley said.

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