Assets manager State Street Global Advisors installed a bronze statue of a girl facing the Wall Street’s charging bull in Manhattan on the eve of International Women’s Day, reported Business Insider. The installation is part of the firm’s new campaign that aims to get more women on corporate boards. A company spokeswoman told Reuters that the statue was to attract attention to the lack of gender diversity on corporate boards and the pay gap.
The sculpture, which is titled “The Fearless Girl”, was made by Kristen Visbal. Like the charging bull was installed without permission by artist Arturo Di Modica in 1989, this sculpture was also put up discreetly on Tuesday night, reported Adweek.
The company said they hoped the statue would be there for about a month. “The idea of having a female sort of stand against the bull, or stand up to the bull, just struck us as a very clever, but also creative and engaging way to make that statement,” Lori Heinel, the firm’s deputy global chief investment officer, told Business Insider. He added that the stance of the girl’s statue was such that it is “willing to challenge and take on the status quo.”
As part of the campaign, the asset manager also plans to vote against boards if a company does not take steps to increase its female employees. SSGA, which is the world’s third largest asset manager, which controls more than $2.5 trillion, will send out a letter to 3,500 companies, urging them to initiate action in this regard. The company believes organisations with women in top positions perform better financially. “There has been a lot of discussion on this topic, but the needle hasn’t moved materially,” Heinel told Business Insider.