Published: Fri, March 10, 2017
Finance | By Laverne Griffith

Wall Street's iconic bull has a new companion

Wall Street's iconic bull has a new companion

The company has also implemented a potent visual aid in its campaign, by unveiling a statue of a small girl - "representing the future", the company said - directly opposite the iconic bull statue on Wall Street.

It's also challenging corporate America-the 3,500 companies that State Street Global Advisors invests in on behalf of clients-to help create that critical mass by adding women to their boards.

"A key contributor to effective independent board leadership is diversity of thought, which requires directors with different skills, backgrounds, and expertise", said State Street president Ron O'Hanley in a statement.

Wall Street's iconic charging bull just got a new neighbor. Ad week reports that the guerrilla aspect of the placement is in keeping with the Charging Bull itself, which was installed without permission by artist Arturo Di Modica in 1989. According to SSGA, "one in four of the 3,000 largest traded U.S. companies don't have a single woman on their board". The money manager said it would vote against boards if a company failed to take steps to increase its number of members who are women. The organization issued guidelines on gender equality and failure to follow it would have SSGA to use its proxy voting power to influence change.

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"Promoting leadership opportunities for women in financial services, and all industries, provides companies with new perspectives and approaches that may lead to better business results".

Data from corporate governance data firm Equilar shows that one of four companies in the Russell 3000 index, meant to be a benchmark of the entire USA stock market, had no female membership. Several artists worked on erecting the statue in the dark of night so that it would be ready for viewing by street traffic on Tuesday morning.

A plaque at the feet of "Fearless Girl", branded with the SSGA logo, reads: "Know the power of women in leadership. "To me it says a woman can be delicate and petite, but strong".

It took months of intricate planning by two corporate giants to install "Fearless Girl" under the veil of darkness in time for Wednesday's International Women's Day. It was later made a permanent installation in the financial district. Negotiations are under way for the piece to remain there longer.

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