The iconic Wall Street ‘Charging Bull’ statue got a new foil on Tuesday morning — a defiant young girl, cast in bronze. The new installation was introduced just ahead of International Women’s Day by State Street Global Advisors, the world’s third-largest asset manager, as part of a campaign meant to push companies into adding more women to their corporate boards. State Street argues that increasing the gender diversity of a board is correlated with greater financial returns — a claim backed up by recent research conducted by Credit Suisse.
Lori Heinel, State Street’s deputy global chief investment officer, told Business Insider that nearly one in four of all corporate boards represented in the Russell 3000 stock market index included no women whatsoever. State Street reportedly planned to send letters to 3,500 companies on Tuesday asking them to add at least one female board member — in addition to taking further steps to address their gender disparities.
“One of the most iconic images on Wall Street is the charging bull. 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,” Heinel explained. “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.”
The statue, titled “The Fearless Girl,” was created by sculptor Kristen Visbal and installed overnight in New York by famed advertiser McCann. According to McCann, the statue will remain up for at least a week — and possibly longer.
Read the full story at Business Insider.