Tag Archives: State Street Global Advisors

State Street Global Advisors talks the talk on board gender diversity, but will it walk the walk?

by Cydney Posner

Happy International Women’s Day!

In this press release, State Street Global Advisors, which manages $2.47 trillion in assets, announced, on the eve of International Women’s Day, that it is “calling on the more than 3,500 companies [in which] State Street invests on behalf of clients, representing more than $30 trillion in market capitalization to take intentional steps to increase the number of women on their corporate boards.” According to State Street’s president and CEO, diversity is important to good governance:  “A key contributor to effective independent board leadership is diversity of thought, which requires directors with different skills, backgrounds and expertise.” Although State Street’s preferred approach is to encourage change through active engagement, it may well use stronger measures, including voting against directors. According to the WSJ, State Street plans to “send letters about gender diversity this week to the heads of the more than 700 Russell 3000, FTSE 350 and S&P/ASX 300 companies with no women on their boards.” Continue reading

Leave a comment

Filed under Corporate Governance