“Today, we are calling on companies to take concrete steps to increase gender diversity on their boards and have issued clear guidance to help them begin to take action.” – CEO of State Street Global Advisors Ron O’Hanley.
To celebrate International Women’s Day, SSGA offered a new symbol of women in leadership. Standing strong and confident, a young girl staring down the famous charging bull represents a new iconic landmark in the one place no one can ignore—New York City’s financial district. This statue signals to financial markets that the future depends on investing in the power of women in the boardrooms and SSGA will use proxy voting power to influence change – voting against the chair of the board’s nominating and/or governance committee if necessary.
The company is no small player in its field, SSGA is the worlds thirds largest money manager – twice the size of the Norwegian “Oljefond”.
Research by Mckinsey Global Institute documents that companies with greater levels of gender diversity have had stronger financial performance as well as fewer governance-related issues such as bribery, corruption, shareholder battles and fraud.
Note: Woetzel, Johnathan. “The Power of Parity: How Advancing Women’s Equality can Add $12 Trillion to Global Growth.” McKinsey Global Institute, September 2015
Bergensia – The Sustainable Gazette ; curated from press release by State Street Global Advisors http://newsroom.statestreet.com/press-release/corporate/state-street-global-advisors-calls-3500-companies-representing-more-30-trill