Women's Day: 'Fearless girl' challenges Wall Street's charging bull

The new statue named SHE was installed Tuesday morning and is meant to highlight both female leadership and gender disparity

As part of an International Women's Day campaign by USA fund manager State Street Global Assets, the company unveiled a statue of a fearless girl staring down the iconic bull.

State Street Global Advisors placed a bronze statue called "The Fearless Girl" across from the iconic charging bull to mark International Women's Day.

The bronze figure by sculptor Kristen Visbal, which is staring down the legendary bronze bull that has graced the legendary New York City thoroughfare since 1989, will stay there for a month. The organization issued guidelines on gender equality and failure to follow it would have SSGA to use its proxy voting power to influence change.

"In my 20 years in advertising, I personally have not seen anything like this", he added.

Visabel said she had driven past the charging bull years ago and remembered thinking, "I wish I had made it".

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The statue, which will be a permanent installation, "is meant to symbolise the growing number of women in leadership positions around the world", read a statement by State Street Global Advisors, which sponsored the statue.

State Street CEO Ronald O'Hanley says multiple studies show that corporations with women in top positions outperform their rivals, so he wants the companies he invests in to increase female leadership.

A young girl, head held high, hands firmly planted on her waist, stares down an icon of Wall Street, an arena long dominated by men. 63% of the Chinese startups have women in leadership positions while that figure for companies in the U.S. & U.K.is 46% and 42% respectively.

If there's one place where we need to grab society's patriarchal bull by the horns, it's Wall Street. The group works to increase the number of women in portfolio management and executive leadership in the asset management industry.

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. The statue has a permit to remain there for a week, but the firm is trying to extend that permit to a month. So, not only is it terrible for a company's diversity, it's a foolish business decision! According to Reuters, only three of its 11 board members are female, and two of them have been serving for more than a decade.

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