Embracing Equity on International Women’s Day

I can still recall the morning of March 8, 2017. In the dark hours of the early morning, crews had placed the Fearless Girl statue opposite the iconic bull of Wall Street. The symbolism was clear: the status quo of public company board composition and the associated lack of gender diversity on boards. This little girl challenged us all to be better. But would the world answer her call? Could one statue, just four feet tall, serve as an impetus for the lasting and real change on boards and across companies? The answer, of course, is yes. And also, no. 

Since the Fearless Girl made her debut in 2017, board diversity has changed for the better. For example, State Street Global Advisors identified 2,146 companies that did not have a woman on their Board, and in response, 1,027 – about 50% – of those companies have added a female director. This is progress, but it is not enough. 

The theme of this year’s International Women’s Day is “Embracing Equity,” and it is a call for renewed action. Simply put, we have not seen enough lasting progress when it comes to matriculating female talent to the most senior levels of our company and industry. I am committed to doing better. 

At State Street , doing better means continuing our efforts to put in place policies, processes, and programs that develop and support women, give equal access to career opportunities, and elevate women to management ranks throughout our organization. We need true representation – across every business line and function. This was the call to action that arose from Fearless Girl and it continues to be our call to action today. 

The need to embrace equity extends beyond our places of work and into our communities, our social engagements, and even inside ourselves. Gone are the days of “somebody else will deal with this.” We must forge new paths – for ourselves and for those that follow. Embracing equity is about action, not passivity. It is about making space for allies, choosing to sponsor, and being accountable for outcomes. 

Thank you for your continued support of our women colleagues, both inside and outside State Street. There is much work to be done, and we need to invite everyone to join us – together – in the fight for equity.