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State Street Global Advisors Trust Company v. Visbal
In celebration of International Women's Day two years ago, State Street Global Advisors (State Street), a Massachusetts trust company, unveiled Fearless Girl at Bowling Green in the Financial District in Manhattan. Commissioned by State Street from the artist Kristen Visbal, the work has since become a part of the zeitgeist amidst global conversations about gender parity, diversity, and inclusion on a broader scale.
For the uninitiated, Fearless Girl depicts a young girl, arms akimbo with legs braced and taking up space. Installed in front of, and facing the existing sculpture Charging Bull by artist Arturo De Modica, the girl's posture is one of fierce, almost defiant, determination in the face of challenge. At the girl's feet is a plaque which read “[k]now the power of women in leadership. SHE makes a difference.” When viewed in the context of the sculpture as a whole, the line is not only a powerful message about gender diversity and inclusion in leadership roles, but also a clever play on words. State Street's NASDAQ ticker symbol is SHE.
Wildly popular with its message resonating across the board, images of the statue immediately went viral online. Upon its unveiling, State Street claims that it garnered over 1 billion Twitter impressions in the first twelve hours. Bloomberg News estimated that the statue resulted in $7.4 million in free publicity for State Street in April 2017 alone, with marketing exposure equal to 28% of the firm's 2016 ad spend. The social media traffic and news coverage was the stuff of PR dreams.
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