The sterling women of Wall Street are now immortalized in bronze.
Leading the charge into International Women’s Day, State Street Global Advisors disrupted the Street’s iconic bull statue — charging and unrestrained — with the Tuesday installation of a complementary piece.
A defiant little girl, with hands on hips, gaze deadened and feet firmly planted, now stands before the bull in an air of confrontation. “Know the power of women in leadership” is the message that accompanies the piece.
“One of the most iconic images on Wall Street is the charging bull,” Lori Heinel, State Street’s deputy global chief investment officer, told Business Insider. “So 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. Even though it’s a little girl, her stance is one of determination, forwardness, and being willing to challenge and take on the status quo.”
Source: Courtesy of SSGA, taken from Fortune
A Social And Financial Play
The $2.5 trillion asset manager installed the statue as part of its recent campaign to close the gender gap on corporate boards. The firm wrote to 3,500 companies Tuesday to encourage board diversification, and it intends to vote against the boards of companies that do not attempt to include at least one female member.
About 25 percent of boards in the Russell 3000 have no female representation, and another 60 percent of boards are less than 15 percent female, according to State Street.
The firm suggested that gender diversity bolsters overall company performance and shareholder value.
“A key contributor to effective independent board leadership is diversity of thought, which requires directors with different skills, backgrounds and expertise,” State Street CEO and President 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.”
Related Link: Three Critical Accelerators To Closing The Gender Pay Gap For Class Of 2020, Accenture Research Finds
Image Credit: Carol M. Highsmith [Public domain], via Wikimedia Commons
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Article Source: http://www.benzinga.com/news/17/03/9147260/little-girl-takes-on-wall-street-bull-thanks-to-state-street-global-advisors?utm_campaign=partner_feed&utm_source=stateofthemarkets&utm_medium=partner_feed&utm_content=site