GLOBAL - State Street Corporation has signed a lease for a new operations centre in Krakow, Poland.
Tim Caverly, executive vice president of State Street's investor services business in continental Europe, said: "Poland is a key component to support our continued growth in Europe. Krakow provides access to a highly educated workforce and deep labor pool of talent"
State Street currently has more than 150 employees in Poland who provide support for the company's fund accounting business in continental Europe.
In other news, Partners Group has further expanded its Asian presence with the opening of a Beijing office.
Linda Cai has been appointed to lead the office and develop Partners Group's presence in the region.
Philipp Gysler, head Asia, commented: "Having been active investors in China since 2005, we have seen rapid growth in market size and depth, with investment opportunities offering superior returns.
"This local presence represents a natural next step, thereby securing our leading position and ensuring market proximity, which is crucial in China," Gysler concluded.
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.