Firm behind Wall Street’s ‘Fearless Girl’ statue to close New York offices

Company embracing ‘hybrid working model’ as employees stay remote or have option of co-working space

State Street Global Advisors will no longer have a New York office (AFP via Getty Images)

State Street Global Advisors, the financial firm behind the “Fearless Girl” statue on Wall Street, has decided not to return to its New York offices.

New York staff of the Boston-headquartered company were told that they will not be returning to the two locations on Avenue of the Americas near Rockefeller Centre in Midtown Manhattan, The Wall Street Journal reports.

More than 500 employees were located there in the custody bank and money-management businesses. The firm is expected to sublease the space to other companies.

New York employees have been working remotely since the start of the Covid-19 pandemic.

More recently, staff who have needed to go into the office can do so provided they follow the appropriate protocols — few have returned.

Staff members were informed in May that the offices would be closed and have the option of working from other offices in New Jersey or Stamford, Connecticut, but have not been directed to do so.

Different parts of the company, which manages $3.5 trillion in assets, will decide the balance between in-person and remote work going forward.

A statement from the company says: “We are happy our NYC-area employees, including members of our global executive leadership team who call New York home, have welcomed and are embracing our hybrid working model.”

State Street is understood to have secured some co-working space in Manhattan for employees who need a place to work.

‘Fearless Girl’ was installed opposite Wall Street’s iconic ‘Charging Bull’ in March 2017 in honour of International Women’s Day and as a plea for US financial firms to employ more women at senior levels.

While originally intended to remain in place for just 30 days, the statue, designed by Kristen Vibal, was an instant hit and has attracted thousands of tourists.

It has since been moved to a position opposite the New York Stock Exchange a few blocks away.