Kilkenny local authorities have awarded a civic honour to the US-based financial services company, State Street, to mark ten years of the company in Kilkenny.
Joseph Antonellis, vice-chairman of State Street, received the honour last Friday at a civic function hosted by Mayor David Fitzgerald and Chairman of Kilkenny County Council, Paul Cuddihy.
Minister for Environment, Community, and Local Government, Phil Hogan, and members of the local business community were in attendance for the reception in the Parade Tower to honour Mr Antonellis and to mark States Street’s contribution to business and civic life in the county.
State Street’s Kilkenny office first commenced operations with 30 employees in 2001. It now employs 450 people locally.
Mayor David Fitzgerald welcomed Mr Antonellis on his first visit to Kilkenny.
“We are delighted that State Street – a smart and successful company at the forefront of financial services and banking administration across the world, and the envy of it’s competitors – is here,” he said.
“State Street was the first International Financial Services to commence operation outside of the IFSC in Dublin and we are happy you chose to locate here.”
On receiving the civic honour, Mr Antonellis said that it was a proud day for State Street in Kilkenny, and that the company would continue to build on its success locally.
“Over the past decade we have continued to grow and innovate, providing increasingly sophisticated services for global financial markets,” he said.
“Our clients put great value on the global accounting and distribution capabilities that we offer out of Kilkenny. Our growth is a testimony to the many talented individuals and teams, mostly third level graduates, who work in our Irish business.
“I want to reiterate our commitment to Kilkenny. We have forged a happy association with the city over the past decade, and we look forward to building on this success as we further expand our business in Europe. I want to thank you again for your support over the years, and for your work in ensuring that Kilkenny is such a great place to do business.”
Joseph Antonellis is vice chairman of State Street and leads all Europe and Asia-Pacific Global Services for the company. According to Forbes Global, Mr Antonellis has an annual salary of over $780,000, and on top of stock awards and other fiscal earnings, his total compensation for last year stood at over €10.5 million.
Since its entry into the European market in 1970, State Street has more than 9,700 employees throughout Europe, offering local investors a complete range of financial services across the investment spectrum.
In Ireland, State Street has grown to be one of the country’s largest fund administrators and custodians. The company employs over 2,200 staff at offices in Dublin, Drogheda, Kilkenny and Naas.
Kilkenny is currently marketing itself as a place for international companies to establish and do business under the Invest Kilkenny campaign (www.investkilkenny.ie ), which launched last October.