The world's third largest asset manager along with its agency McCann New York just installed a bronze statue of a defiant girl in front of Wall Street's iconic charging bull as part of its new campaign to pressure companies to add more women to their boards.
State Street Global Advisors, a nearly $2.5 trillion investor and unit within State Street Corp., is rolling out the campaign ahead of International Women's Day on March 8.
The firm also reportedly plans to send out a letter to 3,500 companies asking them to take action on the issue.
The stunt, timed to International Women's Day on Wednesday, is meant to symbolize the power of women in leadership. More specifically, it's part of a campaign by SSGA to emphasize that companies with women in top positions perform better financially.
The sculpture, titled "The Fearless Girl," was made by Kristen Visbal. 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. It was meant to be a symbol of the strength and power of the American people following the stock-market crash of 1987. The city allowed it to remain after it popular with residents.
McCann has got a permit for the girl statue and SSGA installed the statue in collaboration with city officials. They expects it to stay in place for at least a month. The agency is negotiating with the city for it to become part of the art program so it can stay longer.