Firm Behind NYC's 'Fearless Girl' OKs Equal Pay Settlement - NBC 10 Philadelphia
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Firm Behind NYC's 'Fearless Girl' OKs Equal Pay Settlement

An investigation found that female executives at State Street Corporation made less in base pay, bonus pay and total compensation than similarly situated males in the same positions

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    NEWSLETTERS

    The little girl staring down the Wall Street bull will not be backing down anytime soon. The city extended the permit to allow the statue to stay put until February 2018. Katherine Creag reports.

    (Published Monday, March 27, 2017)

    The financial services firm behind Wall Street's "Fearless Girl" statue agreed to pay $5 million to settle federal allegations that it paid female executives less than their male counterparts.

    The agreement followed a U.S. Department of Labor probe into Boston-based State Street Corporation.

    Investigators said their analysis concluded that State Street had paid female executives less in base pay, bonus pay and total compensation than similarly situated males in the same positions.

    A spokeswoman for the company said Thursday that State Street disagrees with the analysis but opted to bring the six-year-old matter to a resolution and move forward.

    'Charging Bull' Artist Says 'Fearless Girl' Violates Rights

    [NATL] 'Charging Bull' Artist Says 'Fearless Girl' Violates His Legal Rights

    Artist Arturo Di Modica is accusing the City of New York of violating his legal rights by allowing artist Kristen Visbal's statue of the "Fearless Girl" installed in front of his own sculpture, "Charging Bull," without his permission. He calls Visbal's installation an "advertising trick." 

    (Published Wednesday, April 12, 2017)

    In a statement the company said it is "committed to equal pay practices and evaluates on an ongoing basis our internal processes to be sure our compensation, hiring and promotions programs are nondiscriminatory."

    The agreement calls on State Street to pay $5 million into a fund for 305 female executives and 15 black executives, which the investigation also found had been paid less than similarly situated white employees in the same positions.

    Artist Kristen Visbal's "Fearless Girl" statue of a girl with her hands on her hips was commissioned by State Street Global Advisors, a division of State Street Corporation, and placed on a traffic island facing Wall Street's "Charging Bull" statue on March 7.

    The work was embraced by tourists and others as a symbol of female empowerment, though some critics have questioned the motives of State Street, which has said the statue was intended "to celebrate the power of women in leadership and to urge greater gender diversity on corporate boards."