State Street has opened its new Irish headquarters in Dublin.

By the end of this year, the new 165,000 square foot building, located at 78 Sir John Rogerson’s Quay, will house more than 1,100 State Street employees across its global services and alternative investment solutions businesses.

Jay Hooley (pictured), chief executive officer of State Street who assumed leadership for the company this week, presided over the opening events in Dublin. 

“The opening of this new building is an example of our expanding footprint in Europe and our strong commitment to Ireland,” says Hooley. “We are continually broadening our service offerings and developing solutions that are uniquely suited to the needs of our clients. The Irish offshore fund administration market holds continued opportunities for growth, and will remain a key component in State Street’s goal to increase its non-US revenue.”

Since its entry into Ireland in 1996, State Street has grown to be one of the largest fund administrators and custodians in Ireland. It has offices in Carrickmines, Drogheda, Dublin, Kilkenny, and Naas, and more than 2,000 local employees.

The new State Street building has attained a “very good” rating, the second highest rating as defined by Building Research Establishment Environmental Assessment Method, a UK-based rating system that provides guidance on ways of minimising the adverse effects of buildings on the global and local environment. 

Among its sustainability and energy-efficient features, the building includes a rain-water harvesting system, high-performance glazing to reduce air conditioning needs and eliminate office glare and air handing units which provide heat recovery efficiencies.