State Street Global Advisors, one of the largest asset managers in the world, is responsible for overseeing the installation of bronze guerrilla statue Fearless Girl in front of Charging Bull. The artwork is a nod to State Street’s equality campaign, designed to increase the number of women in senior positions on Wall Street.
State Street is urging every company to diversify on the basis that it statistically “improve[s] company performance and increase[s] shareholder value,” reports Business Insider. According to The Independent, “more than 85 per cent of financial advisors on Wall Street are said to be men, and State Street says 25 per cent of Russell 3,000 Index companies have no women on their boards.”
President and CEO of State Street, Ron O’Hanley, said in a statement, “Today, we are calling on companies to take concrete steps to increase gender diversity on their boards and have issued clear guidance to help them begin to take action.”
The artistic representation of a progressive future, Fearless Girl was created by artist Kristen Visbal and installed early Tuesday morning.