State Street Corporation, a leading provider of financial services to institutional investors, has opened a new office in Doha.

The new office builds on the company’s presence in the region. State Street has had a presence in Dubai since 1993, said a statement.

“The Middle East is home to some of the largest and most sophisticated sovereign wealth funds in the world who stand to benefit from the broad range of solutions that State Street can offer,” said Peter O’Neill, executive vice president and head of State Street’s Investment Servicing and Investment Research and Trading businesses in the UK, South Africa and the Middle East.

“Expanding and deepening our 15-year presence in the Middle East will be key to ensuring we take advantage of the many opportunities in the region,” he added.

State Street’s new office will provide investment servicing solutions as well as unique investment research via State Street Associates, the company’s research partnership with academia.

With $15.3 trillion in assets under custody and $1.9 trillion in assets under management at June 30, 2008, State Street operates in 26 countries and more than 100 geographic markets worldwide.-TradeArabia News Service