A replica of the “Fearless Girl” statue made famous on Wall Street has come to London.
US bank and financial services company State Street announced on Tuesday that it has installed the replica in Paternoster Square in London, right next to the London Stock Exchange.
The installation comes ahead of International Women’s Day on Friday and is meant to highlight the campaign by State Street’s asset management division to get more women in management teams and on boards.
Lori Heinel, deputy global chief investment officer for State Street Global Advisors, said: “Studies have shown that companies with greater gender diversity at the senior leadership levels generate better returns than their peers. That drives our conviction to continue our engagement and voting efforts as we look to make further progress on this important topic.”
Last year State Street identified 1,265 companies with no women on its board. Since then, 423 have added at least one female director to their board, State Street said.
The company also announced on Tuesday that from 2020 in the UK, US, and Australia State Street Global Advisors would vote down entire boards if they have no female nominees and have not engaged with State Street on the gender diversity issue. State Street Global Advisors is the world’s third largest asset manager, with $2.5trn in assets under management.
The “Fearless Girl” statue was first installed on Wall Street in 2017, pictured staring down the “Charging Bull” statue on Wall Street.
Catherine McGuinness, chair of the policy and resources committee at the City of London Corporation, said: “We are delighted to welcome Fearless Girl to the City. This builds upon the City of London Corporation’s continuing efforts to increase the recognition of women in the City’s public realm.
“I hope that Fearless Girl will serve as a reminder of the progress we have made and the progress we still need to make.”