State Street Marks Development of New Premises at Cloche d'Or

On the morning of Tuesday 18 March 2025, State Street Bank Luxembourg held a reception to mark the laying of the foundation stone for its future headquarters located on Rue Gerhard Mercator in Luxembourg-Gasperich.

The event saw around 100 guests, including the First Alderman of the City of Luxembourg, Maurice Bauer, invited to a reception held in a temporary structure set up for the event at the worksite of the bank’s new building. Named “The Stairs”, the building’s design by Moreno Stefano Architects features a staircase-style layering of the building’s floors.

The building, which is due to be completed in the first half of 2026, will reach a height of 48m and will have a total floor space of 9,999m2 spread over twelve levels. It will accommodate up to 975 workstations for State Street Luxembourg’s 800 existing members of staff.

As part of the presentation, host Jess Bauldry welcomed guests to the event before providing background information on State Street’s history in Luxembourg and introducing a video detailing the building’s development. She then invited a series of guests to the stage to provide their thoughts on State Street’s decision to relocate from their current premises in Luxembourg-Kirchberg to the new location in the Cloche d'Or district.

The first speaker, property developer and head of the Promobe Group, Flavio Becca, spoke of the success of the development of the Cloche d'Or district, remarking: “This neighbourhood didn’t even exist 20 years ago. In only 20 years, we have imagined, created and built a new neighbourhood. [It] has established itself as one of the capital’s landmark districts,” adding: “Today we welcome a new player [to] Cloche d’Or. We are extremely pleased to welcome one of the greatest banks in the world, State Street”.

Alderman Bauer was then invited on to the stage to add his thoughts on the project, stating: “On behalf of the City of Luxembourg, it is a real pleasure to stand here on this ground where, 20 years ago, we did not even a have a name for this [area]. I congratulate State Street for this opportunity they have seized because you have been a pioneer in the 90s when you settled down in Kirchberg, where there was not that much development at the time and now you are here.” He added: “I would like to highlight the decision of State Street to install their premises here, having bought the building, which is a very strong message to Luxembourg. This is a strong message for the financial centre of Luxembourg [and] its future.”

Next to take the stage was the building’s architect Stefano Moreno for a question and answer session with host Jess Bauldry. Responding to questions in relation to the building’s development, design and the challenges faced during the project, Mr Moreno detailed: “What is strong is the location at the crossing of the two main boulevards. [Our approach] was to create an experience which is something different to the rest of the neighbourhood.” He then went into detail about the building’s proportions, the plot size and how they worked to create a building which still allowed for the development of public space. A slide presentation followed, detailing the structural aspects of the design of “The Stairs” and the architectural choices which led to its unique design.

Moreover, Country Head of State Street Bank Luxembourg, Riccardo Lamanna, was welcomed to the stage to provide his thoughts on State Street’s relocation to the Cloche d’Or district and the new premises. He said: “Since I joined in 2021, we had a problem, we needed to find a new building. And we were looking around, [for] quite a while. There were a number of issues in our steps but then, when one year ago we saw where The Stairs will be, we decided that’s the place.” He added: “We think this building matches [our] needs, is very environmentally friendly, it has top standards and we’ll be there for many years”.

After the speeches, guests were invited outside to the grounds of the new building, where each of the main guests signed a copy of the building’s plans before it was encased in a concrete wall for posterity.

Guests were then welcomed back to the temporary venue for a walking lunch which featured food prepared by Michelin-starred chef Roberto Fani.

SM