“Living Wall” Installed at Fearless Girl to Symbolize Importance
of Continued Growth
Program Expands to Hong Kong and Singapore
State Street Global Advisors, the asset management business of
State Street Corporation (NYSE: STT), today celebrates the third
anniversary of the launch of the Fearless Girl campaign, which
began with the introduction of a now iconic symbol of gender
diversity in leadership on the eve of International Women’s Day
2017. Since the arrival of Fearless Girl on Wall Street three years
ago, 681 publicly-traded companies with previously no women on
their boards that the firm called on and engaged with have added at
least one female board member.1
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State Street Global Advisors Marks Third
Anniversary and Progress of Fearless Girl Campaign, Reports 681
Companies Added Female Board Members (Photo: Business Wire)
The firm is marking the occasion with the installation of a
“living wall” at the Fearless Girl statue at the New York Stock
Exchange, which became her new home on December 10, 2018, when she
was moved from her original post at Bowling Green. The “living
wall” behind Fearless Girl symbolizes the importance of continuing
to grow the number of women in senior leadership.
“This moment represents so much more than an
anniversary—Fearless Girl is about a smarter way to do business,”
said Cyrus Taraporevala, President and Chief Executive Officer of
State Street Global Advisors. “Due in large part to the broader
industry conversation sparked by her installation, there’s been a
sea change in gender diversity on corporate boards—but this still
is just the beginning of this growth story. As stewards of investor
assets, we will continue to use our voice and our vote to advocate
for greater gender diversity on boards.”
The “living wall” forms a frame of flowers and greenery behind
the Fearless Girl statue. The number of companies that appointed
women to once all-male corporate boards globally since the
campaign’s inception, 681, is prominently embedded into the wall
for everyone to see the progress she’s inspired.
“When we first placed Fearless Girl on Wall Street, our goal was
to take a stand for the power of women in leadership and create
more opportunity for female leaders,” said Lori Heinel, deputy
global Chief Investment Officer at State Street Global Advisors.
“While we’ve seen impressive results, we know there’s more work to
be done. To that end, we chose a living installation, representing
our continued focus on growth and progress.”
State Street Global Advisors announced today the latest impact
numbers from the Fearless Girl campaign and they show that
companies continue to answer the call.
As of February 2020, 681 of companies out of the 1,384
identified by State Street Global Advisors responded by adding a
female director. In the US, 495 of boards of directors added a
female member, while 33 and 13 made this change in Canada and the
UK, respectively. In Japan, 101 boards added a female director and
30 added a female director in Australia.
Fearless Girl by the Numbers
Worldwide:
Number of companies identified
since campaign launch in March 2017
Number of companies adding a
female director
Global
1,384
681
US
928
495
UK
15
13
Australia
59
30
Japan
295
101
Canada
74
33
Europe (ex-UK)
13
9
Beginning this month, State Street Global Advisors will be
expanding its gender diversity voting guidelines to Hong Kong and
Singapore, with the companies listed on the Straits Times and Hang
Seng indices being impacted. This voting guideline was introduced
in the US, UK and Australia in 2017, and extended to continental
Europe, Canada and Japan in 2018.
State Street Global Advisors will also vote against the entire
nominating and governance committee, not just the chair, in its
target markets if concerns exist about the lack of gender diversity
for four consecutive years and the companies are unable to engage
in productive dialogue.
“Expanding to Hong Kong and Singapore is the next step in the
Fearless Girl campaign’s global journey,” said Rakhi Kumar, Chief
Strategist for ESG and Asset Stewardship at State Street Global
Advisors. “Additionally, moving beyond the committee chairs with
our voting action reflects the fact that while many companies have
been responsive, there is still work to be done.”
For more information on State Street Global Advisors’ Fearless
Girl campaign, visit www.ssga.com/fearlessgirl.
About State Street Global Advisors
For four decades, State Street Global Advisors has served the
world’s governments, institutions and financial advisors. With a
rigorous, risk-aware approach built on research, analysis and
market-tested experience, we build from a breadth of active and
index strategies to create cost-effective solutions. As stewards,
we help portfolio companies see that what is fair for people and
sustainable for the planet can deliver long-term performance. And,
as pioneers in index, ETF, and ESG investing, we are always
inventing new ways to invest. As a result, we have become the
world’s third largest asset manager with nearly US $3.12 trillion*
under our care.
* This figure is presented as of December 31, 2019 and includes
approximately $45 billion of assets with respect to SPDR products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
© 2020 State Street Corporation - All Rights Reserved
Expiration Date: 3/05/2021
2977490.1.1.AM.RTL
1 Source: State Street Global Advisors Engagement Tracking
Database
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version on businesswire.com: https://www.businesswire.com/news/home/20200305005491/en/
Brendan Paul +1 401 644 9182 Bpaul2@statestreet.com
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