State Street Corp. announced Wednesday it opened its new Australian headquarters in Sydney.

By the end of the year, approximately 700 employees who were previously based at two locations in Sydney be housed on eight floors in one building.

Jay Hooley, State Street’s chief executive officer, said the new office, will bring the Boston-based company’s Australian operations, including its global advisors, global markets and global services businesses, into one location and provides room for future expansion.

“This move is exciting for us as it reinforces our commitment to growing our business in Australia and throughout the Asia Pacific region,” he said.

State Street has had a presence in Australia for 25 years. “Over more than two decades we’ve created a strong presence in the market providing our clients with a range of investment servicing, trading and investment management solutions,” Hooley said. “We plan to build on this solid foundation.”