London Daily

Focus on the big picture.
Saturday, May 31, 2025

One of world's largest investment firms will need permission to hire White men

One of world's largest investment firms will need permission to hire White men

State Street Global Advisors previously commissioned the 'Fearless Girl Statue' that stared down Wall Street’s 'Charging Bull' sculpture

Leaders at one of the largest investment firms in the world, State Street Global Advisors, will need to ask permission to hire White men as it rolls out a diversity hiring initiative.

"This is now front and central for State Street — it’s on every senior executive’s scorecard," said Jess McNicholas, the bank’s head of inclusion, diversity and corporate citizenship in London, according to the Sunday Times.

"All of our leaders have to demonstrate at their annual appraisals what they have done to improve female representation and the number of colleagues from ethnic-minority backgrounds."

The company aims to triple the number of Black, Asian and other minority staff in senior positions by 2023, the Sunday Times reported. If executives don’t meet the target, they will face lowered bonuses.

Recruiters will now have to establish panels of four or five employees, including a woman and a person with a minority background, when hiring middle management staff.

The firm will still hire White men, McNicholas said, but recruiters are required to show that women and minority applicants were interviewed by the panels.

The company is pledging to "hold ourselves accountable for strengthening black and Latinx owned businesses."

The 'Fearless Girl' statue which stands in front of Wall Street's charging bull statue is seen in New York, U.S., March 15, 2017.


State Street Corporation is based out of Boston and founded in 1792. It currently has just nearly 40,000 employees over 30 offices worldwide.

A man walks his dog past the Fearless Girl statue outside the New York Stock Exchange, Tuesday, Oct. 5, 2021, in New York. Stocks are drifting mostly lower in early trading on Wall Street as investors look ahead to another big week of earnings report (Associated Press)


State Street previously made headlines in 2017 when it commissioned the statue of a girl staring down Wall Street’s "Charging Bull" sculpture for International Women’s Day. The sculpture, known as the "Fearless Girl Statue," was later moved to the New York Stock Exchange building after complaints from the sculptor of the Charging Bull.

Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
Italy Faces Population Decline Amid Youth Emigration
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Trump Accuses China of Violating Trade Agreement
Gerry Adams Wins Libel Case Against BBC
Russia Accuses Serbia of Supplying Arms to Ukraine
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
Chinese Woman Dies After Being Forced to Visit Bank Despite Critical Illness
President Trump Grants Full Pardons to Reality TV Stars Todd and Julie Chrisley
Texas Enacts App Store Accountability Act Mandating Age Verification
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Vatican Calls for Sustainable Tourism in 2025 Message
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Trump Threatens 25% Tariff on iPhones Amid Dispute with Apple CEO
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
Liverpool Car Ramming Incident Leaves Multiple Injured
Australia Faces Immigration Debate Following Labor Party Victory
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Macron Dismisses Viral Video of Wife's Gesture as Playful Banter
Cleveland Clinic Study Questions Effectiveness of Recent Flu Vaccine
Netanyahu Accuses Starmer of Siding with Hamas
Junior Doctors Threaten Strike Over 4% Pay Offer
Labour MPs Urge Chancellor to Tax Wealthy Over Cutting Welfare
Publication of UK Child Poverty Strategy Delayed Until Autumn
France Detains UK Fishing Vessel Amid Post-Brexit Tensions
Calls Grow to Resume Syrian Asylum Claims in UK
Nigel Farage Pledges to Reinstate Winter Fuel Payments
Boris and Carrie Johnson Welcome Daughter Poppy
×