As we’ve noted before, there’s some measure of irony in the fact that State Street Global Advisors erected the Fearless Girl statue to garner publicity for its campaign to increase the number of women in corporate leadership. State Street Global Advisors is, after all, run by a leadership team that is 82 percent male. It’s also overwhelmingly, blindingly white. (I mean, seriously, get a load of these guys.)
But in fairness to State Street Global Advisors, progress isn’t about where you start, it’s about the steps you make from that place toward your goal. Every new hire, every new appointment to corporate leadership, is an opportunity to shift the balance of power.
We read with interest, then, a press release from Tuesday that SSGA had made two high-profile hires for head of global SPDR product and head of global SPDR marketing. (SPDRs are a type of exchange-traded investment fund.)
The new head of global SPDR product is named Noel Archard. He is a man.
The new head of global SPDR marketing is named Seth Morrison. He’s a man.
“We are delighted to welcome [Seth and Noel] to the team, and we look forward to their leadership as we evolve and grow our Global SPDR ETF business,” said SSGA co-head of global SPDR business Rory Tobin, a man.
According to the press release, Archard will report to Tobin and the head of SSGA’s global institutional group, Cyrus Taraporevala, a man.
Morrison, the release states, will report in to Nick Good, co-head of the global SPDR business, and Stephen Tisdalle, chief marketing officer of SSGA. Good and Tisdalle are men.
Andrew Hopkins, assistant vice president for public relations at SSGA’s corporate parent, State Street Corporation, and a man, told the Voice that State Street — not SSGA itself — has recently elevated a female employee. Hannah Grove, the company’s chief marketing officer, was appointed to State Street’s management committee earlier this month, bringing the number of women on the fifteen-member committee to three. Hopkins says the company has a three-year diversity plan, and has set a goal of having women as at least 28 percent of senior managers by the end of the year.
Congratulations to State Street Global Advisors, the global financial corporation leading the fight for gender equity in corporate leadership, on their new hires.
This article from the Village Voice Archive was posted on May 5, 2017