Financial services company State Street is to create 400 new jobs in Kilkenny as it sets up a new specialist team to provide technology infrastructure and cyber security services to support group operations globally.

State Street currently employs about 2,000 staff in Ireland across Dublin, Drogheda, Naas and Kilkenny.

The company said it had selected Ireland for the new jobs mainly due to the availability of relevant and skilled technology talent from universities and third level institutions.

It also needed to have a location outside the US for time zone support purposes.

The new unit will be located at IDA Ireland Business and Technology Park in Kilkenny where State Street already employs about 600 staff and where the firm is in the process of developing a new office.

The new roles will be filled on a phased basis over the next two years.

The new jobs include positions for cybersecurity operations analysts, cybersecurity instrumentation engineers, data scientists, cybersecurity architects, cybersecurity forensics/investigations, pen testers and governance as well as risk and compliance experts.

Tadhg Young, State Street's head of Ireland, said the jobs announcement, alongside plans for the company's new office development in Kilkenny, marks a further strengthening of its presence and commitment to the region for years to come.

"Ireland's tech ecosystem and financial services credentials alongside Kilkenny's central location and access to talent from third level institutions in Dublin, Carlow, Waterford and beyond were all compelling factors in our location decision," Mr Young said.

"I wish to thank the IDA for their continuing support of State Street, and I strongly encourage anyone seeking a new career opportunity in a great location and with great prospects for professional development to check out our new roles," he added.

Leo Varadkar, Tánaiste and Minister for Enterprise, Trade and Employment, said today's news was a fantastic boost for Kilkenny.

"Ireland's highly skilled and experienced workforce continues to attract the very best investment across the country. This announcement is further evidence of the phenomenal work the IDA is doing to attract and retain FDI in Ireland," Mr Varadkar added.

Minister of State with special responsibility for Financial Services, Credit Unions and Insurance Seán Fleming said the investment is an endorsement and a commitment to Ireland and the State Street team in Kilkenny.

"It demonstrates the vital role that regional operations can play in creating value for global firms," he added.

Martin Shanahan, CEO of IDA Ireland, said today's "significant" announcement by State Street demonstrates not only the company's continued commitment to Ireland but also the attractiveness of the South East Region's value proposition.

"The new cybersecurity and tech roles announced for State Street's new facility in Kilkenny will help shape the future of our economy and will support the company’s global operations," he stated.