State Street Takes Action on Gender Diversity for International Women’s Day
State Street Global Advisors, an arm of New England Council member State Street Corp., recently announced it will adopt new guidelines to push the 3,500 public companies State Street invests in to diversify their boards by increasing the number of women.
State Street Global Advisors made the announcement on the eve of International Women’s Day in conjunction with the company’s placement of the statue of a young girl called ‘Fearless Girl’ facing the famous Wall Street charging bull statue in lower Manhattan. Fearless Girl received significant media attention, bolstering CEO Ron O’Hanley’s hopes that the company’s actions could spark a serious change in the dialogue on gender diversity amongst companies that have little to no gender diversity on their boards.
“In a year, we would like to see a significant change in the dialogue at companies with very low to no gender diversity. We would like to hear that there’s a real effect going on here. You might say that’s just talk. But companies take stewardship and governance conversations as seriously as those they have with any other kind of investment analyst,” said O’Hanley. “They don’t want to make promises they can’t keep because we will be back in a year. We always check in with any company that we have had any engagement with. They know we are not going away.”
The New England Council thanks State Street for the company’s commitment to increasing gender diversity in the workplace. Read more in Business Insider and The Atlantic.