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State Street Challenges Wall Street's Bull With 'Fearless Girl' Statue
10 March 2017, 12:46 | Ignacio Smith
There's Now A Statue Of A Young Girl Facing Wall Street's Famous Charging Bull
But whereas the animal, officially named Charging Bull, is meant to represent the prosperity and optimism of bull markets, his new neighbour-a statue of a defiant girl-was created to call attention to a glaring injustice on the Street.
The company behind the project, State Street Global Advisors, hopes the statue calls Wall Street to hire more women.
Kristen Visbal, the statue's sculptor, told the Wall Street Journal she considered having the girl charging the bull, but instead decided to make them simply face one another. One article from Forbes even mentioning that this simple installation may help change the face of Wall Street. 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.
As State Street puts it, "We wanted to highlight the power of women in leadership".
According to research by European Women on Boards (EWoB), women occupy less than a quarter of all United Kingdom board positions.
State Street Global Advisors placed the primary school-aged child squarely in the path of the rampaging beast in a plea to fellow companies for more gender diversity.
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The statue carved with confrontational body language and expressions was installed to raise voice against industry's gender inclusivity, lack of equal pay for women and issues with diversity.
The financial giant wanted to spread a serious message: that more women should be appointed to the boards of the Russell 3000, a broad index of US companies.
The company, which manages nearly $2.5 trillion in assets, marked International Women's Day with the campaign, which it says will be in effect immediately.
In commending SSGA's new initiative, Chris Ailman, chief investment officer of CalSTRS, said the statue "boldly signals to financial markets that the future depends on investing in the power of women".
It's unknown how long "Fearless Girl" will stand in the Financial District, but it is certainly a welcome gesture. On Tuesday, SSGA said it would vote against companies that don't have women directors, as part of a push to increase female leadership.
A man who works nearby said, "I have two daughters and I thought it was pretty impressive that they have this up here".
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