State Street parts company with Ogilvy

Ogilvy confirmed the WPP agency has ended its work with the financial giant best known for its Fearless Girl campaign.

Fearless Girl brought the State Street name to global prominence in March 2017.
Fearless Girl brought the State Street name to global prominence in March 2017.

BOSTON: State Street Corporation has severed its ties with Ogilvy after a relationship that spanned five years.

Ogilvy was hired in January 2013 to support media relations and thought leadership, an agency spokesperson said. That arrangement came to an end earlier this month after State Street told the WPP shop it was hiring a different firm.

It is understood that State Street is now working with Brunswick, according to two sources familiar with the matter.

Brunswick and State Street’s global head of PR and social media, Marc Hazelton, declined to comment.

State Street also works with Joele Frank on a project basis, a spokesperson for the financial comms and IR agency said.

The State Street brand came to prominence after its subsidiary State Street Global Advisors, which handles the asset management business, went viral with its Fearless Girl campaign.

With help from ad firm McCann, SSGA commissioned and installed a now-famous statue of a girl staring down Wall Street’s Charging Bull.

The wildly successful campaign was an earned media hit, driving billions of impressions and a trading spike to the SHE exchange-traded fund, a gender diversity stock index the statue activation was designed to promote. Average daily trading volume increased 384% in the days following the release, according to SSGA data.

When Fearless Girl launched, SSGA called on the 3,500 companies in which it invests to increase gender diversity, and last summer it said 152 had added a woman to their boards as a result.

In 2017, Fearless Girl won a host of creative plaudits at Cannes International Festival of Creativity, including Grand Prix for the PR, Titanium, Glass, and Outdoor Lions.

Fearless Girl is eventually set to be moved to the New York Stock Exchange. The city may also move Charging Bull as well, because of concerns about pedestrian safety.

Hazelton took over the top PR role at State Street in February after his predecessor, Anne McNally, joined John Hancock last year as VP and head of corporate comms.

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