US financial giant, State Street, announced on Thursday that they are to open a new office in Gdansk in 2016. They hope to eventually recruit more than 1,000 people in the city.

The Boston based financial giant is the second oldest financial institution in the United States having been founded in 1792 and currently has offices in 29 countries worldwide.

The investment in Gdansk, which was announced at Gdansk Main Town Hall, is the largest investment so far in the advanced business services sector in Pomerania.

"This new office will bring additional career opportunities to our employees. It will create multiple management and senior technical positions for both existing employees as well as professionals and graduates from the local and international financial services sector”, said Scott Newman, the managing director at State Street Poland.

“Since opening our Kraków office in 2007, we have seen continued success and growth of our Polish operations due to the large talent pool, strong work ethic and highly-educated population. Expanding into Gdansk represents a key milestone for us in the region” he continued.

State Street will be based in the rapidly expanding Oliwa district in the Alchemia complex, where it will rent 14,000m2 of office space and initially employ 350 people.

"The new office in Gdansk can accommodate more than 1,000 people. We plan to create jobs for both experienced professionals in the fields of finance, as well as young people - graduates of Tri-city universities. The people employed in the new office will perform the same tasks as workers from other offices of State Street all over the world, and this creates enormous opportunities for our employees" Mr. Newman announced.

Marshall of Pomerania, Mieczyslaw Struk, highlighted that Gdańsk and Pomerania are very good places for investment. "A lot of well-educated people live here, young people who want to work in large global corporations and who want to learn with them and improve their qualifications"

Mr. Struk is convinced that the decision of State Street office to invest in Gdansk will be attract new investors to the region and noted that the business services sector now employs 19,000 people in the region.

State Street provides financial services to the largest institutional investors. Its customers include corporations, governments, non-profit organizations, pension funds and other investment managers.

Today, State Street handles approximately 40 percent of investment funds and 37 percent of pension funds in the US and is also a significant presence in other markets including Japan, Germany, Canada and the UK.

This piece was written based on articles with appeared on biznes.onet.pl and State Street's newsroom page.