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Wall Street Meets "The Fearless Girl"

Wall Street Meets

The iconic bull statue in Wall Street may have met his match, and she's female.

It was placed on Tuesday morning by asset manager State Street Global as part of a campaign to increase gender diversity in Wall Street's traditionally male-dominated environment and call on the industry to increase the number of women on corporate boards.

"We believe good corporate governance is a function of strong, effective and independent board leadership", State's president Ron O'Hanley said.

As part of the campaign, State Street is sending a letter to 3500 corporations calling for more gender diversity in the upper echelons of management, amid warnings that it will vote against boards that fail to take steps to push women up the leadership ladder.

Fearless Girl, the four-foot tall statue, was designed by Kristen Visbal. A composite of Visbal's friend's daughter and a 9-year-old Latina girl, Visbal says the statue represents women's abilities to be petite or delicate, yet still strong.

"By the time I got my camera out, the news photographers were telling her what to do", Almonte said. Standing proudly with hands on hips against the massive oncoming bull, "Fearless Girl" is set to become an instant icon of women's persistence and courage - especially when the odds seem stacked against them. It said in the release that it would use its proxy voting power to influence change when necessary.

More news: Snow Possible For Friday Morning Commute

"To celebrate International Women's Day, State Street Global Advisors offered a new symbol of women in leadership".

The statue was installed by State Street Global Advisors, an investment company with almost $2.5 trillion in assets, as a call to action for the more than 3,500 companies it invests in (collectively worth $30 trillion) to add more women to their boards.

In conjunction with International Women's Day on Wednesday, many American woman are planning to stay home from work, which has led some schools to cancel classes.

Arturo Di Modica, the sculptor behind the "Charging Bull", snuck it onto Wall Street one night in 1989.

Right now, "Fearless Girl" is set to remain in place for a week, though there is potential for the statue to stay longer. 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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