Wall Street's Famous Charging Bull Is No Match For This Young Girl's Statue
An asset management group installed a sculpture of a young girl facing the famous charging bull in New York City’s financial district.
State Street Global Advisors, the world’s third-largest asset manager, put the bronze sculpture up in an effort to encourage the 3,500 companies it invests in to increase the amount of women directors ahead of International Women’s Day. The company, which managed just under $2.5 trillion in assets at the end of last year, stated they would vote against corporate boards that do not take initiative to increase gender diversity.
“We believe good corporate governance is a function of strong, effective and independent board leadership,” Ron O’Hanley, the company’s president and CEO, commented to Huffington Post. “A key contributor to effective independent board leadership is diversity of thought, which requires directors with different skills, backgrounds and expertise. 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.”
According to Catalyst, women hold less than 20 percent of corporate board seats in S&P 500 companies. In 2015, MSCI conducted a study that showed companies with strong female leadership perform better than those that do not.
Kristen Visbal, who sculpted “The Fearless Girl”, told The Wall Street Journal she considered having the girl charging against the bull. However, decided that the girl should squarely face the animal and used her friend’s 9-year-old Latina daughter as the model for her piece.
“Wall Street is a traditionally male environment and it says, ‘Hey, we’re here,’” Visbal told the Journal. “To me, it says a woman can be delicate and petite, but strong.”