UCC partners Chinese in new centre

10 Dec 2015

International bank, State Street Corporation (NYSE:STT), University College Cork (UCC) and Zhejiang University (ZJU) in China announced today a collaboration to launch a technology centre at UCC. 

The collaboration expands State Street’s relationship with both universities and will initially focus on emerging technologies and how they impact on the financial services industry.

“This is an exciting new initiative that will enable us to understand better emerging technologies and their impact on our businesses and our clients,” said Susan Dargan, head of State Street’s Global Services Offshore business. “Ireland has become synonymous with disruptive technologies, with numerous centres of excellence. This partnership is a testament to our history of innovation and bringing together academia and business.”

Great to see this - well done all! #Talent #FinTech @UCC @StateStreet @ZheJiangUniv @IDAIRELAND @pwcireland @Entirl https://t.co/MimMD6uaaP

— Andrew O'Callaghan (@AndyOCallagha) December 10, 2015

Welcoming the announcement, Simon Harris, Irish Minister of State with responsibility for International Financial Services, commented, “I congratulate State Street on their initiative in fostering links between prestigious Irish and Chinese academic centres. This new technology centre is a major milestone in State Street’s long-standing relationship with UCC. I look forward to the R&D in the financial services area in UCC reaching new heights in collaboration with Zhejiang University.”

State Street, UCC and Zhejiang University partner to establish Technology Centre https://t.co/jFSJ8fHt7P @UCC pic.twitter.com/dergrgKaye

— Business World (@BusinessWorldIE) December 10, 2015

The technology centre will initially involve 20 students from both UCC and ZJU focused on key areas including virtual crypto currency and investor behaviour. The partnership will include a research exchange program for students between the two universities. In addition, UCC will consider establishing associated master and doctoral programs.

Professor Ciaran Murphy, Dean of Cork University Business School, UCC said, “We are delighted and proud that State Street has selected Ireland and University College Cork as the location for their European technology centre. We are aware that other cities and universities in Europe were considered. In joining with our colleagues in Zhejiang University we are collaborating with one of the top three universities in China. We are confident that the centre will create a unique global research experience for our students and will help Ireland to be at the forefront of Fintech research.”

Min @SimonHarrisTD welcomes @StateStreet #Fintech initiative w/ @UCC & China's @ZhejiangUniv https://t.co/qAzGKEFgSH via @IrishTimesBiz

— Dept of Finance IRL (@IRLDeptFinance) December 10, 2015

"Zhejiang University has been partnering with State Street for 14 years on research and development of advanced information technologies for State Street's global needs. We appreciate this new initiative very much and look forward to working together with State Street and UCC," said Yang Xiaohu, executive vice dean of Zhejiang University Software College and head of State Street Zhejiang University Technology Center.

Ends

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $27.3 trillion in assets under custody and administration and $2.2 trillion* in assets under management as of September 30, 2015, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com.

About University College Cork

University College Cork (UCC) was established in 1845 and is a globally-oriented research-led university in the south of Ireland. With approx. 20,000 students pursuing undergraduate and postgraduate studies, the institution provides the full range of academic disciplines and plays a crucial role in the development of Ireland's knowledge-based society. As Ireland's first five-star university (QS), UCC boasts a vibrant, modern, environmentally-sustainable campus and a top-ranked student experience, second to none in Ireland. The institution is now ranked in the top 2% of universities worldwide, based on the quality of our research output and peer esteem.

Established in December 2014, Cork University Business School (CUBS) is the new and dynamic Business School of University College Cork building on over 100 years of business education at UCC. CUBS maintains the largest number of fulltime undergraduate students and second largest number of fulltime graduate students in Ireland.

CUBS offers full and part time programmes leading to doctoral degrees, MBAs and Masters in each of its core disciplines of Accounting, Finance, Information Systems, Economics, Food Business and Management and Marketing.

About Zhejiang University

Located in the historical and picturesque city of Hangzhou, Zhejiang University is a prestigious institution of higher education with a long history. The university motto is "Seeking the Truth and Pioneering New Trails". Zhejiang University is a comprehensive research university with distinctive features and a national as well as international impact. Research at Zhejiang University spans 12 academic disciplines, covering philosophy, economics, law, education, literature, history, art, science, engineering, agriculture, medicine, management and etc. Zhejiang University has turned out a large number of outstanding talents in its history. There are more than 160 alumni elected members of Chinese Academy of Sciences and Chinese Academy of Engineering. Zhejiang University has long been holding the educational philosophy of putting people foremost, cultivating all-round competence in students, seeking the truth and pioneering new trails in search of excellence, and is committed to developing future leaders with an international perspective.