IT Minister KTR inaugurates Centre of Excellence (CoE) of State Street Corporation

Hyderabad, Nov 22: The Telangana IT Minister KT Ramarao has inaugurated a Centre of Excellence (CoE) of State Street Corporation, the New York Stock Exchange-listed firm providing financial services to institutional investors at the city's IT hub on Tuesday.

Besides the 3.16 lakh sq ft facility, for which it has recruited nearly 700 people since April, it has also consolidated operations in Bengaluru with the opening of a new facility, as part of its plans to expand operations in India.

"We first established our presence in India 10 years ago and today, it’s a key component of our center of excellence network," chairman and CEO Jay Hooley told media persons on Tuesday.

The CoE will undertake the full range of work, thus supporting the operation across different geographies for the company, he said."The network gives us the coverage necessary to deliver services to clients more effectively and efficiently," he said, adding that the company was impressed with the talent pool.