State Street Corp. of Boston said it has signed a lease for an office in Krakow, Poland.
Construction of the building is scheduled to be completed in June 2009. It will accommodate up to 1,000 employees.
"By establishing this operations centre, State Street will expand its capabilities and further advance business growth opportunities in Ireland, Luxembourg, Germany, and across Europe," the company said Tuesday.
Tim Caverly, an executive vice president of State Street's investor services business in continental Europe, said that "Poland is a key component to support our continued growth in Europe."
State Street has more than 150 employees in Poland who provide support for its fund accounting business in continental Europe. It has 27,000 employees worldwide and more than 6,000 in Europe.
The company wants to increase its revenue generated from its operations outside of the United States to 50%. Last year those operations accounted for 41% of its revenue.
