A statue of a young girl has been added to the sidewalk where the iconic bull was installed in 1989.
Lori Heiner told Business Insider: "One of the most iconic images on Wall Street is the charging bull". Wall Street itself. And not just any financial company, but State Street Global Advisors, the worlds third-largest asset manager, with $2.4 trillion under management.
SSGA is urging the roughly 3,500 companies it invests on behalf of clients, to take steps to increase the number of women on their corporate boards.
The campaign, rolled out ahead of International Women's Day and the March 8 Women's Strike, also calls for more companies to put female executives in top positions.
"We're actively pursing that it stays for a month", she said.
The firm noted that women have made some headway in corporate America, according to Reuters.
The bull, designed by Italian-born artist Arturo Di Modica, was initially taken down from its spot by the New York Stock Exchange but was placed permanently on Broadway.
Despite the effect on ROE, a quarter of Russell 3000 companies do not have a woman on their board, the investment firm noted.
It was commissioned by the investment firm, State Street Global Advisors (SSGA) and is meant to call attention to income inequality in the corporate world. The sculpture, entitled "Fearless Girl" stands as a hopeful symbol for female leadership, strength and power, now and in the future.
But that doesn't mitigate the big problem with SSGA's headline-grabbing gesture (aside from the "diversity of thought" line, which is its own kind of dodge). A 2015 MSCI study shows that companies in the MSCI World Index with strong women leadership generated a 10.1% return on equity per year versus 7.4% for those companies that did not have adequate women representation in leadership roles. Yet, I'm often struck by the lack of women in attendance, with men generally outnumbering women by a wide margin. "We all need to lean in and be bold for change now". "Will they? I doubt it", O'Hanley, told the Wall Street Journal. The symbolic statue also addresses the gender gap and places a focus on strengthening the next generation.
Early Tuesday morning a new 4-foot bronze statue of a little girl in a ponytail and sneakers was erected to face Charging Bull.