State Street unveils expansion plans in Poland

State Street Corp. said today that it has signed a lease for a new operations center in Krakow, Poland, that can accommodate up to 1,000 employees.

(At right, a popular Krakow vista.)

State Street of Boston, which provides financial services to institutional investors, said it currently has more than 150 employees in Poland, out of 6,000 in Europe and 27,000 worldwide.

The Krakow center will be a new 125,000-square-foot building that is scheduled for completion in June 2009, State Street said.

“Poland is a key component to support our continued growth in Europe,” Tim Caverly, executive vice president of State Street’s investor services business in continental Europe, said in a statement. “Krakow provides access to a highly educated work force and deep labor pool of talent."
(By Chris Reidy, Globe staff)